Orange Polska Q1 results above consensus
April 28, 2014
Telecom operator Orange Polska, formerly known as TPSA, beat the market forecast with a Q1 attributable net profit of PLN 271 million, with management saying cost cutting saved margins from continued deep revenue decline, group financial report for Q1 2014 showed.
"We defended EBITDA margins at levels close to Q1 2013," CFO Maciej Nowohonski was quoted saying of adjusted figures, citing a 7% cut in operating costs. Management cited a PLN 76 million cut in commercial costs, visible in steep 20-30% cuts in subscriber acquisition costs, as well as PLN 59 million in other cost optimization.