Swisscom lowers 2012 sales guidance but vows unchanged dividend
ZURICH Aug 8 (Reuters) - Swisscom lowered its full-year sales guidance due to the strong Swiss franc against the euro, but said it would keep its dividend unchanged at 22 Swiss francs ($22.74) per share if targets are met.
The Swiss telecommunications firm now expects full-year sales of 11.3 billion francs, from 11.4 billion francs previously, after lowering its exchange rate forecast to 1.20 francs from 1.23 per euro.
Other financial guidance, including EBITDA of 4.4 billion francs and stable Fastweb revenue of 1.6 billion euros excluding its low-margin hubbing business, remain unchanged. Fastweb is forecast to close 2012 with slightly higher EBITDA and slightly lower capital expenditure compared to 2011.
European telecoms groups are struggling with declining revenue and profit as they face new competitive threats, such as from Google which offers a free messaging service on smartphones. ($1 = 0.9674 Swiss francs) (Reporting By Katharina Bart)
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