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Article: Belgium: Belgacom beats forecasts despite EBITDA and net income decline.(Financial report)
- Article from:
- TendersInfo
- Article date:
- November 2, 2009
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Byline: pinto03
Belgian fixed line incumbent Belgacom has posted its financial results for the nine months ended 30 September 2009, beating forecasts despite reporting a decline in earnings before interest, tax, depreciation and amortisation (EBITDA) and net income.
The telco posted EBITDA of EUR1.488 billion (USD2.19 billion), down 2% on the same period a year earlier, while net income slumped 9.9% to EUR617 million. Revenues for the nine-month period however remained relatively stable, with Belgacom posting a 1% year-on-year increase to EUR4.47 billion. An 8.2% y-o-y increase in revenue at its consumer business unit helped to offset a 7.3% decline at ...