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Netia results are no surprise to the market

APA - Austria Presse Agentur
opublikowano: 11-08-2005, 16:03

Warsaw (Puls Biznesu) – Netia, Poland’s biggest independent telecom operator, had PLN 25m (EUR 6.2m) of net income in the second quarter of 2005, or PLN 7m fewer than last year. Sales grew to PLN 223m from PLN 215m in the same period of last year. Those results were widely expected by analysts who forecast PLN 24m of net income against PLN 224m of sales.

Warsaw (Puls Biznesu) – Netia, Poland’s biggest independent telecom operator, had PLN 25m (EUR 6.2m) of net income in the second quarter of 2005, or PLN 7m fewer than last year. Sales grew to PLN 223m from PLN 215m in the same period of last year. Those results were widely expected by analysts who forecast PLN 24m of net income against PLN 224m of sales.

In the first half of the year, Netia generated PLN 440m of sales, or 4 percent more than in 2004, net income fell to PLN 48m from PLN 68m last year, operational income dropped by PLN 6m to PLN 50m. "The change in net income was connected with the ongoing share and warrant buy-back programme, higher amortisation, lower net financial incomes and the CIT payments”, the company explained. “ Revenue growth in the first half of 2005 was

driven by a 28% increase in sales from strategically targeted products other than traditional direct voice. This segment now represents 42% of total revenues compared to 34% a year ago”, Wociech Madalski, Netia CEO commented.

(PLN 1 = EUR 0.248)

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Podpis: APA - Austria Presse Agentur

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