Telekom Austria Group Q3 revenues drop 6.2%; net income grows 32.5%

Telekom Austria has reported group revenues of EUR1.111 billion (USD1.528 billion) for the three months ended 30 September 2011, down 6.2% compared to the EUR1.185 billion generated during 3Q10. The company blames the slump on price pressure in Austria, ongoing economic headwinds in Croatia and Bulgaria and the devaluation of the local currency in Belarus. Meanwhile EBITDA dropped 8.1% year-on-year, to EUR412.9 million, with positive contributions from Telekom’s ‘Additional Markets’ (Serbia, Slovenia, Macedonia) unable to compensate for lower returns in Austria, Bulgaria, Croatia and Belarus

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OVETEL Telekom Austria Group Q3 revenues drop 6.2%; net income grows 32.5%