10.11.2014 08:11:49
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Telefonica Deutschland 9-Month Loss Widens On Lower Revenues - Update
(RTTNews) - German telecommunications provider Telefónica Deutschland, a part of Spanish telecom group Telefónica S.A. (TEF, TDE.L), reported Monday a wider loss in its first nine months of fiscal 2014, as revenues were hurt by lower mobile service and handset revenues. Postpaid mobile net additions, however, climbed from last year.
For the first nine months of 2014, the company's loss stood at 79 million euros, as against a loss of 1 million euros a year ago. Operating loss was 53 million euros, while last year's profit was 22 million euros.
Revenues totaled 3.50 billion euros, 4.6 percent lower than last year. Mobile service revenues declined 2.6 percent year-over-year to 2.19 billion euros, and fell 2.4 percent excluding the impacts from mobile termination rate cuts.
Handset revenues declined 7.9 percent year-on-year to reach 444 million euros, with almost all handset sales made under the "O2 My Handy" distribution model.
Operating Income before Depreciation and Amortization or OIBDA reached 726 million euros, down 16 percent from last year. OIBDA margin was down 2.8 percentage points to 20.7 percent.
In the nine-months, postpaid mobile net additions reached 374 thousand, compared to 207 thousand last year, with the third quarter almost tripling prior year's number.
Telefonica Deutschland attributed the growth in net additions to a further positive trend of gross additions in the consumer and business segments on the back of continued commercial investments, with a favorable mix for both customer acquisitions and renewals plus a broadly stable churn performance.
Total postpaid base increased 3.3 percent to 10.7 million accesses and, further improving its share over the total mobile base to 54.3 percent.
Smartphone penetration in the O2 consumer postpaid segment improved 4.2 percentage points year-on-year to reach 74.1 percent at the end of September.
Mobile ARPU was 12.4 euros, a decline of 2.2 percent from last year, and postpaid ARPU declined 4.2 percent.
In the third quarter, revenues were almost stable at 1.22 billion euros, while handset sales increased 22.1 percent. OIBDA dropped 17.8 percent to 240 million euros and OIBDA margin was down 4.1 percentage points to 19.7 percent in the third quarter.
The company noted that its trading kept positive momentum, with O2 brand further enhancing relevance in the market thanks to demand for LTE and availability of new devices.
Rachel Empey, CFO, said, "Our financial and operational performance in the third quarter demonstrates an improved momentum based on the consistent execution of our mobile data monetization strategy, leveraging the uptake of LTE."
At the end of September, Telefónica Deutschland customer accesses reached 25.3 million, down 0.7 percent, as 0.4 percent growth in mobile access base was offset by decline in fixed accesses of 4.4 percent.
Telefónica shares settled at 11.81 euros on Friday.
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