Telekom Austria : Reports Improved Ebitda Margin For Q1 2014 Despite Decline In Revenues | 4-traders

However, thanks to considerably reduced costs, EBITDA comparable (excluding effects from restructuring and impairment tests) decreased by only go here now 5.0% to EUR 319.9 million. Net income totaled EUR 40.8 million (-26.5%) in the period under review. "We knew that the 2014 business year was going to be difficult. The numerous remedial measures, which we put in place in the first quarter 2014 to improve our earnings power, will bear fruit in the further course of the year. Nevertheless, we are already seeing the first signs of improvement in our markets and the increase in EBITDA margin demonstrates that we are on the right track with our strategy," said Hannes Ametsreiter, CEO Telekom Austria home page Group and A1, commenting upon the financial results of the Group. Telekom Austria Group's Business http://harrisontvzn.blog.com Development In the first quarter 2014, group revenues dropped by 7.0% to EUR 975.9 million mainly due to a decline in revenues of EUR 65.9 million in the Austrian segment compared to the same period of the previous year. Revenues also fell in Bulgaria and Croatia, whereas the "Additional Markets" segment showed positive development, with both Slovenia and the Republic of Serbia reporting revenue increases. More: http://www.4-traders.com/TELEKOM-AUSTRIA-AG-6492023/news/Telekom-Austria--Reports-Improved-EBITDA-Margin-for-Q1-2014-Despite-Decline-in-Revenues-18460522/