Telefonica Czech Republic AS (BAATELEC.PR, TFATF), majority owned by Spain's Telefonica SA (TEF.MC, TEF), Thursday reported a slightly lower-than-expected drop in its first-quarter net profit and confirmed its earlier unveiled full-year guidance.
-First-quarter net profit came in at 1.62 billion koruna ($83.2 million), beating market expectations of CZK1.61 billion and down 6.9% from CZK1.74 billion in the year-earlier quarter.
-The company reported a 3.3% annual drop in first-quarter revenue to CZK12.47 billion, below market expectations of CZK12.53 billion.
-Operating income before depreciation and amortization dropped to CZK4.78 billion, down 5.7% from CZK5.07 billion a year earlier.
-Telefonica Czech confirmed its outlook for 2012, including improving trends in business revenue compared with 2011 and a limited erosion of its operating margin. Revenue in 2011 dropped 5.7% from 2010, and operating margin stood at 43.7% last year.
-The company will hold a presentation on its results after 1200 GMT Thursday.
-By Leos Rousek, Dow Jones Newswires; +420 222 315 290; [email protected]
(Go to http://blogs.wsj.com/emergingeurope for the new WSJ and Dow Jones blog on Central and Eastern Europe, covering business, politics, society and more, written by our correspondents across the region.)
Order free Annual Report for Telefonica SA
Visit http://djnweurope.ar.wilink.com/?ticker=US8793822086 or call +44 (0)208 391 6028