October 24, 2017 / 7:05 PM / a month ago

Telekom Austria raises full-year revenue forecast

VIENNA (Reuters) - Telekom Austria (TELA.VI), part of Mexican tycoon Carlos Slim’s America Movil (AMXL.MX), increased its full-year revenue forecast thanks to higher income from fixed-line customers and a smaller than expected hit from new EU roaming rules.

The group said on Tuesday it now expects full-year revenue to rise by around three percent from last year’s 4.21 billion euros (3.77 billion pounds)instead of the previously forecast 1 percent.

Telekom Austria’s third-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) fell 2.6 percent to 410.1 million euros, largely due to lower positive revaluation effects than in last year’s period and negative currency effects.

Revenue in the period increased 2.3 percent to 1.11 billion euros.

The group is about to roll out its home market “A1” branding across the rest of its European operations. It also aims to grow its digital business internationally and is investing heavily in cloud services.

Austria’s “A1” chief executive, Margarete Schramboeck, left the company earlier this month, with Chief Technology Officer Marcus Grausam taking over her responsibilities until a permanent successor is found.

Reporting by Kirsti Knolle. Editing by Jane Merriman

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