Telecom NZ reports declines in revenue, EBITDA and profit

摘要

Telecom New Zealand has reported declines in revenue, EBITDA and net profit after tax for the year to 30 June 2009, saying the results "cap off a year of progress"rn"Adjusted" revenue was down two percent to $NZ5.587m, adjusted EBITDA down 6.5 percent to $N21.768m and adjusted NPAT down 32 percent to $NZ483m. Decline in revenues was largely the result of declines in retail revenues and revenues from Australian subsidiary AAPT, offset by growth in wholesale and international.rnThe company said the adjusted information was "consistent with the way that financial performance is measured by management and is provided to assist in a meaningful analysis of the trading results of Telecom." Statutory reported results were rather worse. EBITDA was down 11.2 percent and NPAT down 43.9 percent. The biggest adjustment was a $NZ68m impairment resulting from a decision, in the first half, to write down the carrying value of goodwill in AAPT subsidiary Powertel, acquired by AAPT in May 2007 for $NZ347m. Telecom NZ said that its carrying value was "no longer supported by forecast earnings."