France Telecom said Thursday it had made in the first quarter 2010 revenues down 2% to 10.96 billion euros, in line with market expectations.Profits from his business – not amortissment, charges and taxes (EBITDA) – stand down 4.8% to 3.76 billion euros.
The amount reported sales, which fall into falling 2.7% on a comparable basis, excluding the activities in the United Kingdom, merged with T-Mobile, the French operator said in a statement.
"The group has again demonstrated its ability to maintain its performance in terms of turnover and profitability in an economic and regulatory environment remains difficult," said the CEO of France Telecom, St?phane Richard, quoted in statement.
The operator maintains its 2010 goal of cash generation of around 8 billion euros, "before possible acquisition of new frequencies and without taking into account the impact related to the business tax in France before 2003" .
In its home market, France Telecom has recorded a turnover of 5.77 billion, a decrease of 2.4% (-2.1% on a comparable basis). Spain is even worse, with sales decline of 3.3% (-2.8% on a comparable basis).
In contrast, "Africa and the Middle East are growing more than 7% (on a comparable basis) due to" the rise of our business especially in C?te d'Ivoire, Kenya, Senegal and Uganda, " said St?phane Richard.
On Tuesday, France Telecom was willing to pay 300 million dollars, or about EUR 224 million, allowance to Orascom Telcom under its agreement with the group in Cairo to settle their dispute over Mobinil.
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