Telekom Austria Group reported a 7.3% decline in turnover to €1.94 billion in the first half of 2014 compared with the first half of last year (€2.09 billion).
The EBITDA sank by 7.2% from €667.2 million to €619.4 million. Below the line, Telekom Austria Group posted a loss of €317.8 million. In the first half of 2013, a net profit of €108 million was achieved.
The Austrian telco attributes the decline mainly to a write-off of €400 million in its investment in Bulgaria as well as the ongoing financial and economic crisis in the CEE countries and regulatory issues in its domestic market Austria.
Telekom Austria Group in which Mexican billionaire Carlos Slim recently took over the majority stake now expects a drop in turnover by 3.5% across the whole year of 2014 instead of the previously expected 3% decline.
