Ceske radio to release its 2001 preliminary unconsolidated CAS figures early this week

Ceske radiokomunikace should today or tomorrow release its preliminary parent unconsolidated CAS figures for 2001. This set of figures is usually ignored by the market, since it does not reflect the performance of the RadioMobil and Contactel subsidiaries. Moreover, the 2001 vs. 2000 earnings comparison will be distorted by the fact that the parent company recorded an exceptional gain in 2000 given the compensation received for a dilution of its stake in RadioMobil (from 51% to 39%) in that year. Nevertheless, our forecast is:

-	2001 E (CZK mil.)	2001A (CZK mil.)	change
Revenues	2 712	2 529	+7%
EBITDA	1 180	958	+23%
EBIT	68	37	+86%
Pretax income	403	21 814	n.m.
Net Income	279	15 030	n.m

(Ondrej Datka)