14 May 09 7:30
2009 first quarter results
Portugal Telecom announced today its first quarter results ended 31 March 2009.
| Consolidated financial highlights |
|
euro million |
|
1Q09 |
1Q08 |
y.o.y |
| Operating revenues |
1.604,5 |
1.572,0 |
2,1% |
| Operating costs, excl. PRBs and D&A |
1.001,9 |
966,0 |
3,7% |
| EBITDA (1) |
602,6 |
605,9 |
(0,6%) |
| Income from operations (2) |
254,0 |
298,4 |
(14,9%) |
| Net income |
166,4 |
139,8 |
19,1% |
| Capex (3) |
223,8 |
142,5 |
57,1% |
| Capex as % of revenues (%) |
13,9 |
9,1 |
4,9pp |
| EBITDA minus Capex |
378,8 |
463,4 |
(18,3%) |
| Operating cash flow |
76,5 |
304,1 |
(74,8%) |
| Net debt |
5.740,6 |
4.767,5 |
20,4% |
| After-tax unfunded PRB obligations |
1.367,7 |
942,2 |
45,2% |
| EBITDA margin (%) (4) |
37,6 |
38,5 |
(1,0pp) |
| Net debt / EBITDA (x) |
2,4 |
2,0 |
0,4x |
| EBITDA / net interest (x) |
8,3 |
12,0 |
(3,7x) |
| Basic earnings per share |
0,19 |
0,14 |
31,1% |
| Diluted earnings per share (5) |
0,18 |
0,14 |
29,3% |
(1) EBITDA = income from operations + post retirement benefits + depreciation and amortisation. (2) Income from operations = income before financials and income taxes + curtailment costs + losses (gains) on disposal of fixed assets + net other costs (gains). (3) Excludes additional commitments under the terms of the UMTS licence (Euro 11.5 million in 1Q09). (4) EBITDA margin = EBITDA / operating revenues. (5) Earnings per share computed using net income less the costs associated with the convertible bonds divided by the diluted number of shares.
| Conference Call details |
Date: 14 May 2009
Time:
14:00 (Portugal/UK),
15:00 (CET),
09:00 (US/NY)
Telephones numbers
Outside US: +1 201 689 8261
US and Canada: 877 869 3847 |
If you are unable to attend the conference calla replay will be available for one week through the following numbers:
Outside US callers: +1 201 612 7415
(Account Number: 3082, Conference ID: 321278)
US and Canada callers: 877 660 6853
(Account Number: 3082, Conference ID: 321278) |
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