Thursday, 29 June 2017

Portugal Telecom 2013 full year results

Portugal Telecom
Wednesday 19 February 14

Portugal Telecom announced today its 2013 full year results. (1) 2012 figures were restated in order to reflect the impacts of the adoption of the IFRS 11 Joint Arrangements and of the revised version of IAS 19 Employee Benefits…

Portugal Telecom announced today its 2013 full year results.

(1) 2012 figures were restated in order to reflect the impacts of the adoption of the IFRS 11 Joint Arrangements and of the revised version of IAS 19 Employee Benefits, as explained in more detail under the section “Other disclosures, changes in accounting policies and estimates”
(2) Operating costs = wages and salaries + direct costs + commercial costs + other operating costs
(3) EBITDA = income from operations + post retirement benefits + depreciation and amortisation
(4) EBITDA margin = EBITDA / operating revenues
(5) Income from operations = income before financials and income taxes + curtailment costs + losses (gains) on disposal of fixed assets + net other costs (gains)
(6) Net debt was adjusted for the unused tax credits related to the transfer of the regulated pension plans to the Portuguese State
(7) Net debt and EBITDA were adjusted to consider Oi and Contax as proportionally consolidated
(8) Earnings per share computed using net income excluding the costs associated with the convertible bonds divided by the diluted number of shares.


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