Ceske radiokomunikace's (CRa) H1 2003 IFRS consolidated net profit rose 147% y-o-y, to CZK 844 mil. The consolidated half-year IFRS results, published yesterday, included CRa's 39% share of T-Mobile CR's net profit (CZK 837 mil.) and its 40% share of Contactel's net loss (CZK -101 mil.). As both CRa and T-Mobile CR had previously released their unconsolidated results, the results released yesterday were largely expected. Note that some annualized changes were biased by a changed consolidation method applied for Contactel (from a percentage basis to an equity basis).
IFRS cons. CZK mil. H1 2003 H1 2002 change
Revenues 1,125 1,312 -14.2%
EBITDA 618 334 85.1%
EBIT 17 -355 -104.7%
Pre-tax income 117 -364 -132.2%
Net income incl. ass. 844 342 147.0%