Deutsche Telekom's Slovak unit slows revenue decline
PRAGUE, March 6
PRAGUE, March 6 (Reuters) - Deutsche Telekom subsidiary Slovak Telekom reported a 1 percent drop in revenue in 2013, the smallest decline in five years thanks to increased sales of information and communications technology (ICT) services, it said on Thursday.
Slovakia, owner of a minority 49 percent stake in the business, said last month that it would look at floating its shares in the telecoms company because Deutsche Telekom has so far passed on taking full control.
Like other telecoms players in Europe, Slovak Telekom is facing growing competition and regulatory pressure while Slovakia is looking for cash to finance its state spending.
Slovak Telekom's 2013 revenue fell to 827.6 million euros ($1.14 billion) from 837.4 million the previous year. Earnings before interest, tax, depreciation and amortisation (EBITDA) fell by 5 percent to 337.1 million euros.
Average revenue per user for the company, which had 2.26 million mobile customers at the end of 2013 in a country of 5.5 million, dropped 7 percent to 12.90 euros.
The Slovak market has become increasingly competitive with the arrival of a fourth mobile operator in a January auction of fourth-generation mobile licences, which were awarded to Orange , Slovak Telekom a Telefonica Czech Republic unit and new local operator SWAN. ($1 = 0.7278 euros) (Reporting by Jason Hovet; Editing by David Goodman)
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