The company reported final 2016 results. In Q4 16, revenues declined 0.7% to €1,098m. The gross margin declined from 53.6% to 52.2% and the EBIT margin plummeted from 11.2% to 4.8%. EBIT dropped 57.7% to €2.4m mainly due to higher selling, general & administrative expenses. Net profit, however, increased 28.7% to €100.5m due to a tax benefit of €90m. This tax benefit was mainly related to the recognition of higher deferred tax assets on tax losses. Management is expect
31 Jan 2017
Increase in net income driven by a tax benefit
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Increase in net income driven by a tax benefit
Telekom Austria AG (TKA:WBO) | 0 0 0.1% | Mkt Cap: 4,944m
- Published:
31 Jan 2017 -
Author:
Heinz Steffen -
Pages:
3
The company reported final 2016 results. In Q4 16, revenues declined 0.7% to €1,098m. The gross margin declined from 53.6% to 52.2% and the EBIT margin plummeted from 11.2% to 4.8%. EBIT dropped 57.7% to €2.4m mainly due to higher selling, general & administrative expenses. Net profit, however, increased 28.7% to €100.5m due to a tax benefit of €90m. This tax benefit was mainly related to the recognition of higher deferred tax assets on tax losses. Management is expect