Telecom Orange Polska reaffirms full-year forecasts after H1, hopes for milder revenue fall [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Orange Polska - the country's landline telecom incumbent and owner of one of the three biggest mobile operators in Poland (Orange) - reported Organic Cash Flow at PLN 482mn in H1 of 2014, which is up by PLN 83mn; hence, it also reaffirmed its full year Organic Cash Flow guidance (at least stable level versus 2013 (PLN 1.1bn), excluding one-offs: (i) renewal of existing spectrum, (ii) acquisition of any new spectrum, (iii) potential payment of the EC fine or other claims and litigations).
Also, the telecom said its CAPEX in H1 of 2014 was in line with FY outlook - it reached PLN 778mn at that time, down by 8.7% y/y (the FY outlook is: below PLN 1.8bn, excluding one-off spectrum costs).
Orange Polska reported a decline of revenue by 6.7% y/y in H1 of 2014 - to PLN 6.08bn - and stressed that the trend in this respect has been confirmed: it continues to expect the revenue decline to considerably slow down in H2 of 2014. In H1, it was still affected by MTR cuts from 2013. Excluding impact of regulation of rates (such as Mobile Termination Rate, Fixed Termination Rate, Fixed-to-Mobile rate, customer and visitor roaming rates, Bitstream Access rates), the H1 drop was only 3.6% y/y.
At the same time, Orange Polska's net income surged by 132% y/y to PLN 3365mn in H1 of 2014.
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