Surprisingly High Losses for Telekom Austria

CompaniesTelecoms ♦ Published: May 11, 2011; 09:38 ♦ (Vindobona)

After profits of € 91.2m in the first quarter of 2010, Telekom Austria suffered losses of € 79.2m in Q1/2011. This is mainly due to a social restructuring plan.

Surprisingly High Losses for Telekom Austria / Picture: ©

In the first quarter of 2011 the slowdown in the revenue decline continued and resulted in a reduction of Group revenues by 0.7% to € 1,118.0 m. Whilst the demand for fixed and mobile broadband solutions as well as for smartphones continued to increase, a challenging economic environment, fierce competition and regulatory cuts put further pressure on revenues. Revenue growth in the…