Eurotel (the No.1 domestic mobile operator, 51% owned by Cesky Telecom) released its Q1 2003 figures on Friday. Lower-than-expected sales were more than offset by a higher EBITDA margin, therefore, net income slightly exceeded expectations.
IAS , CZK mil. QI 2003 QI 2002 %change QI 2003e
Sales 6,804 6,773 0.46% 7,120
EBITDA 3,517 3,301 6.54% 3,485
EBIT na na 2,314
Pre-tax profit na na 2,283
Net profit 1,641 1,503 9.18% 1,575
Separately, the government is expected to raise the value-added tax on telecom services from 5% to 22% in May 2004.
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