Telekom Austria reports net loss in fourth quarter
Telekom Austria has reported an 18% drop in its core revenues, as sales fell in the fourth quarter of 2013.
The company’s revenue has been affected by intense competition in Telekom Austria's main markets in central and eastern Europe.
The operator’s net loss in the fourth quarter was €49.5 million, although net profit rose 5.5% to €109.7 million over the full year. Telekom Austria has announced that it will freeze its dividend for the third year in a row.
"We were able to achieve a solid operating performance and increase net income, despite a difficult market situation," said CEO Hannes Ametsreiter. "This shows that strategically the Telekom Austria Group is on the right track. Thus, we will continue along this path also in 2014."
Earlier this month, América Móvil confirmed intentions to invest in Telekom Austria for the long-term.