Vienna, 24 January 2012 - Today, the Telekom Austria
Group (VSE: TKA, OTC US: TKAGY) informs that the application
of hyperinflation accounting for the Segment Belarus in 2011
results in an appreciation of assets, which will lead to an
increase in Group Equity of more than EUR 400 mn. The
appreciation of assets will trigger an impairment of
approximately EUR 300 mn. This impairment will be reflected
in the consolidated financial statements of Telekom Austria
Group and will have a significant negative impact on Group
net income for the full year 2011. Nevertheless, due to the
fact that the appreciation of assets following the
introduction of hyperinflation accounting is expected to
exceed the impairment, hyperinflation accounting is expected
to result in a positive net impact on Group equity of at
least EUR 100 mn.
The management board reiterates the financial outlook of
Telekom Austria Group's full year results for the year
2011, which will be announced on 23 February 2012: Revenues
of approximately EUR 4.50 bn, EBITDA comparable of up to EUR
1.55 bn, CAPEX of EUR 750 - 800 mn and an operating Free Cash
Flow of up to EUR 800 mn. In addition, Telekom Austria Group
confirms its dividend of EUR 0.38 per share for the years
2011 and 2012. For 2013 and thereafter the payout ratio
amounts to 55% of free cash flow to the extent that the
dividend does not lead to a deterioration of Group equity.
This outlook was given on a constant currency basis and
before any effects of inflation accounting for the Belarusian
segment.
About the Telekom Austria Group:
The Telekom Austria Group, listed on the Vienna Stock
Exchange since November 2000, is the leading
telecommunications provider in Central and Eastern Europe
with about 22 million customers across its markets of
operations. The Group is currently operating in eight
countries: in Austria (A1), Slovenia (Si.mobil), Croatia
(Vipnet), the Republic of Serbia (Vip mobile) and the
Republic of Macedonia (Vip operator), Bulgaria (Mobiltel),
Belarus (velcom) and Liechtenstein (mobilkom liechtenstein).
The total market of the eight countries covers about 41
million inhabitants. The Group has more than 17,000
employees, revenues were EUR 4.7 billion as of year-end 2010.
Telekom Austria Group's portfolio encompasses products
and services of voice telephony, broadband Internet,
multimedia services, data and IT solutions, wholesale as well
as m-payment solutions. More detailed information is
available at http://www.telekomaustria.com
Contact
Ursula Novotny, Head of External Communications
International, Telekom Austria Group
email: ursula.novotny@telekomaustria.com
mobile: +43 664 6639187
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