Portugal Telecom announced today its 2013 first nine month results
Consolidated financial highlights (1)
Euro million
9M13
9M12
y.o.y
Operating revenues
4,547
4,984
(8.8%)
Operating costs (2)
3,032
3,255
(6.8%)
EBITDA (3)
1,514
1,729
(12.4%)
Income from operations (4)
476
644
(26.1%)
Net income
305
186
64.3%
Capex
864
890
(3.0%)
Capex as % of revenues (%)
19.0
17.9
1.1pp
EBITDA minus Capex
651
839
(22.4%)
Operating cash flow
489
617
(20.6%)
Free cash flow
65
(264)
n.m.
Adjusted net debt (5)
7,574
7,538
0.5%
Adj. net debt exc OI & Contax(5)
4,620
4,591
(0.7%)
After-tax unfunded PRB obligations
653
616
6.0%
EBITDA margin (%) (6)
33.3
34.7
(1.4pp)
Adj. net debt/EBITDA (x) (5)
3.7
3.3
0.4x
Basic earnings per share
0.36
0.22
64.7
Diluted earnings per share (7)
0.35
0.22
61.1
(1) 2012 figures were restated in order to reflect the impacts of the adoption of the revised version of IAS 19 Employee Benefits, as explained in more detail under the section "Other disclosures, changes in accounting policies and estimates".
(2) Operating costs = wages and salaries + direct costs + commercial costs + other operating costs.
(3) EBITDA = income from operations + post retirement benefits + depreciation and amortisation.
(4) Income from operations = income before financials and income taxes + curtailment costs + losses (gains) on disposal of fixed assets + net other costs (gains).
(5) Net debt was adjusted for the unused tax credits related to the transfer of the regulated pension plans to the Portuguese State.
(6) EBITDA margin = EBITDA / operating revenues.
(7) Earnings per share computed using net income excluding the costs associated with the convertible bonds divided by the diluted number of shares.
Conference call details:
Date: 13 nov 2013
Time:
15:00 (Portugal/UK),
16:00 (CET),
10:00 (USA/NY)
Telephone numbers
Outside US: +1.201.689.8349
US and Canada: 877.407.8293
If you are unable to attend the conference calla replay will be available for one week through the following numbers:
Outside US: +1.201.612.7415
(Conferencal ID: 423122)
USA and Canadá: 877.660.6853
(Conferencal ID: 423122)
PHarol, SGPS S.A. is a holding company that specializes in owning shares in companies operating in the telecommunication field.
At the end of 2023, the company owns 0.18% of Oi S.A. (Brazil).