Speaking to Reuters at a mobile industry conference in Vienna, Telekom Austria Group CEO Hannes Ametsreiter confirmed that the pan-European telecoms group has managed to shake off ongoing price pressure in its domestic market to swing back into profit in the first quarter of 2012. Between January and March the company made a ‘very decent’ profit, compared to a net loss of EUR321.5 million (USD421.3 million) in 4Q11, after a write-down linked to hyperinflation in Belarus and a loss of EUR80 million due to one-off restructuring costs
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OVETEL Telekom CEO suggests that group made a ‘very decent’ profit in 1Q12
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