February 28, 2013 / 8:02 PM / 5 years ago

SFR profit to decline in 2015 vs 2013 -Les Echos

PARIS, Feb 28 (Reuters) - Vivendi’s French telecom unit, SFR, expects to post core profit of 2.8 billion euros ($3.66 billion) in 2015, down from a forecast 2.9 billion this year, Les Echos newspaper reported on its website on Thursday.

SFR is expected to generate 10.3 billion euros of revenue in 2015, compared with 11.3 billion last year, the newspaper said without naming the source of its information.

Les Echos added that SFR would keep investments stable at around 1.6 billion euros annually.

A spokeswoman for Vivendi, which published full-year results on Tuesday, said the company had only given forecasts for 2013.

SFR declined to comment.

Vivendi said on Tuesday that 2012 earnings before interest, tax, depreciation and amortisation (EBITDA) fell 10.6 percent before one-offs to 3.3 billion euros, better than the group’s target for a drop of close to 12 percent.

The division has been hurt by a price war in the French market sparked by the arrival of low-cost mobile operator Iliad a year ago. ($1 = 0.7649 euros) (Reporting by Blandine Henault; Writing by James Regan; Editing by Tim Dobbyn)

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