Telekom Austria Group reported group earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company's total revenues were EUR 1,098.2 million compared to EUR 1,106.4 million a year ago. EBITDA was EUR 275.1 million compared to EUR 333.8 million a year ago. EBIT was EUR 52.2 million compared to EUR 123.8 million a year ago. EBT (earnings before income taxes) was EUR 16.5 million compared to EUR 84.4 million a year ago. Net result was EUR 106.5 million compared to EUR 84.3 million a year ago. Net cash flow from operations was EUR 327.7 million compared to EUR 228.4 million a year ago. Free cash flow was EUR 101.5 million compared to free cash flow at negative of EUR 2.0 million a year ago. Total capital expenditures were EUR 226.7 million compared to EUR 323.1 million a year ago. Pro-forma group total revenues declined by 0.9% year on year and grew by 1.6% year on year excluding one-off and FX effects mainly due to increasingly better trends in service revenues. Capital expenditures paid EUR 194.4 million compared to EUR 205.4 million a year ago. The company reported total revenues of EUR 55.1 million for its operations in Slovenia (Si.mobil and Amis) during the fourth quarter of 2016 compared with EUR 64.8 million a year earlier (-14.9%). Mobile revenues dropped 17.1% to EUR 46.4 million, while fixed line and other revenues fell 1.1% to EUR 8.8 million. EBITDA dropped 55.9% to EUR 10.1 million, giving an EBITDA margin of 18.3%.

For the year, the company's revenues (pro-forma) were EUR 4,211.5 million. EBITDA (pro-forma) were EUR 1,354.3 million. Net income was EUR 413.2 million. Capex was EUR 764.1 million. Net debt was EUR 2,339.4 as on December 31, 2016 million compared to EUR 2,483.0 million as on December 31, 2015. Net cash flow from operations was EUR 1,195.5 million compared to EUR 1,228.4 million a year ago. Capital expenditures paid EUR 816.5 million compared to EUR 731.1 million a year ago. Free cash flow was EUR 232.0 million compared to EUR 352.2 million a year ago. In a year-on-year comparison, the reduction in free cash flow was caused by higher CAPEX paid in 2016 and lower cash flow from operating activities. Higher CAPEX paid due to generally higher CAPEX in 1-12 months in 2016 driven by Belarus (solar power plant) and Austria (fibre network) as well as payments for spectrum investments in Serbia from fourth quarter of 2015.

For the year 2017, the company assumes revenue increase of 1%, taking also into consideration already roaming impact, which estimates will be pretty much the same for 2017 as it was for 2016. The company also expects CAPEX of approximately EUR 725 million.