Ceske radiokomunikace should report its H1 consolidated IAS figures

Ceske radiokomunikace should report its H1 consolidated IAS figures at the end of August, though the exact timing was not specified. Our projections reflect the expected full-year losses of the parent company and of the 50%-owned subsidiary Contactel (consolidated proportionally); equity earnings in associates reflect the contribution of the 39%-owned subsidiary RadioMobil, which is Ceske radiokomunikace’s most important asset (RadioMobil reported its H1 figures yesterday, and were slightly above our forecasts).

CZK 000                          2002 H1e  2001 H1   change

Revenues                           1,288    1,375    -6.3%
EBITDA                               324      386   -16.0%
EBIT                                -274     -271     0.9%
Pre-tax income                      -244     -117   107.7%
Equity in earnings of associate      518      700   -26.0%
Net income incl. Associate co.       274      510   -46.2%

Jiri Soustruznik