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TA 'has a personnel problem'

Telekom Austria (TA) has too many people doing pointless jobs but at the same time has 600 in-house jobs that no one wants, according to its chief Hannes Ametsreiter.

He added yesterday (Tues) that there was also little interest among TA�s employees in transferring to the Interior Ministry to do administrative police work.

Ametsreiter said that personnel costs, 50 per cent of TA�s total costs, had been rising by 20 to 30 million Euros annually. Employees totaled 16,573 at the end of 2009. TA would focus on raising its market share and cut costs, he added, but stressed there was no need for concern since the firm did not have any liquidity problems.

Ametsreiter reported last month that preliminary figures showed a decrease in TA�s turnover but an increase in its operating earnings in 2009.

Turnover declined by 7.1 per cent year on year to 4.802 billion Euros, but earnings before interest and taxes (Ebit) rose by 185 per cent year on year to 343.9 million Euros.

Earnings before interest, taxes, depreciation and amortization (Ebitda) increased to 1.749 billion Euros last year, and earnings per share rose to 0.22 Euro from minus 0.11 Euro in 2008. The firm�s net debt fell by 9.5 per cent year on year to 3.615 billion Euros.

Ametsreiter said: "We had respectable results in 2009 despite very difficult business conditions. We focused on effective cost management in both segments and a reduction in operating expenses. In that way, we cushioned the impact of lower turnover on Ebitda."

He added that TA expected 2010 to be a difficult year for its business in southeastern Europe and it would not engage in a massive expansion of its glass-fibre infrastructure there but rather would concentrate on increasing its cash-flow.

He added the firm�s dividend would remain at 0.75 Euro a share through 2012.
The Austrian State has a 27.4 per cent stake in TA.

Austrian Times

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