Business News

Telekom Proposes EUR 21.66M Dividend Payout for 2013

Ljubljana, 24 April (STA) - The management and supervisors of national telco Telekom Slovenije have proposed to the annual general meeting to earmark EUR 21.66m or EUR 3.33 gross per share for dividends for 2013, while keeping the remaining EUR 43.39m in distributable profit undistributed.

It is however expected that the state, the majority shareholder of the telco which is slated for privatisation, will request a higher dividend in order to secure funds to bridge the budget gap.

Last year the shareholders secured a EUR 78m payout in interim dividends and dividends out of a total of EUR 100.8m in distributable profit from 2012, while the management had proposed that only EUR 33.6m in dividends was paid out.

The supervisory board also discussed on Wednesday the annual reports of the core company and the group for 2013.

The group generated EUR 799.2m in revenue, which is EUR 3.9m more than in 2012.

Operating profit reached EUR 71.7m, which is 12% more than in the year before, while net profit was up by 18% year-on-year to EUR 52.6m.

The group plans to post a EUR 63m net profit in 2014 on an estimated EUR 212m in earnings before interest, taxes, depreciation, and amortization (EBITDA), while investments are expected to stand at EUR 137m.

It is expected that at least the number if not names of the companies interested in Telekom would be revealed soon as the deadline for expressions of interests in acquiring a 72.75% stake in the company expired yesterday.

Unofficially, interested buyers include Deutsche Telekom, which could bid for the Slovenian telco through its Croatian subsidiary T-Hrvatski Telekom, and Magyar Telekom, which is also in majority ownership of Deutsche Telekom.

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