Telekom Slovenia forecasts higher profit in 2015

Telekom Slovenije, D.d

21/11/2014 15:42

LJUBLJANA, Nov 21 (Reuters) - Telekom Slovenia  TLSG.LJ , 
which is slated for privatisation, expects its annual net profit 
to rise in 2015 thanks to cost cuts and rising customer numbers, 
it said on Friday. 
    The government expects to sell the company in the first 
quarter of next year and, according to Reuters sources, has 
narrowed the list of bidders to Deutsche Telekom  DTEGn.DE  and 
four buyout firms.  ID:nL5N0SP41U  
    The firm expects 66 million euros ($82 million) in annual 
net profit in 2015, compared with the 63 million euros forecast 
for this year. 
    It also said it would invest up to 107 million euros in the 
business in 2015, compared with up to 137 million forecast for 
this year. 
    Telekom - the biggest company on Slovenia's privatisation 
list, with a market value of about 1 billion euros - reported a 
19 percent fall in net profit to 37.7 million euros in the first 
nine months of the year on Thursday, mainly due to price cuts 
for its products.  ID:nL6N0TA1J5  
    Despite the steep drop, the company did not change its 
full-year profit forecast for 2014, which was made in December 
last year.     
    Telekom shares rose 1.6 percent to 157 euros on Friday, 
before the 2015 forecast was released, outperforming the 
blue-chip SBI index  .SBITOP  which gained 0.26 percent.  
    (1 US dollar = 0.8045 euro) 
 
 (Reporting by Marja Novak; Editing by Zoran Radosavljevic and 
Pravin Char) 
 ((Marja.Novak@thomsonreuters.com; +386-8-205-6369; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: TELEKOM OUTLOOK/