TP SA Group consolidated revenues down by 4.1% in 2012

TP SA Group ended 2012 with consolidated net revenues of PLN 14.1bn (€3.4bn), 4.1% less than the year before. The group’s consolidated EBITDA totalled PLN 4.8bn (€1.15bn) in 2012, whereas EBIDTA margin dropped to 34.2% (versus 36% recorded in 2011).

The decline in the mobile segment, which dropped on an annual basis by 3% to PLN 7.5bn (€1.8bn), was predominately a consequence of mobile termination cuts (which took place in July 2011 and July 2012). The fixed line segment decreased by 3.2% year on year in 2012.

TP SA Group anticipates a steep decline of its revenues in 2013. Revenues will be driven down by the MTR cuts, as well as by the impact arising from the ongoing price war in the mobile market, said Jacques de Galzain, the group’s chief financial officer. Thus the firm will significantly accelerate its cost saving measures, striving to reshape itself into a leaner and more agile organization. It does not exclude outsourcing or asset disposal as means for increasing efficiency.