TP SA to show the weakest annual performance in the last decade

2010-01-22

According to preliminary estimates, 2009 brought TP SA one of the weakest results over the last decade. Maciej Witucki, the group’s chairman, revealed that the decline in revenues after the four quarters of 2009 was deeper than after the first three quarters of 2009, when it was down 7.6% year on year. Therefore, the last three months of 2009 could bring around PLN 4.1bn (€1.02bn) of revenues, reflecting an 11% year-on-year decrease and the whole year may end with revenues between PLN 16bn (€3.97bn) and PLN 16.6bn (€4.12bn).
The weak results are the effect of the growing competition on the mobile phone market and the economic downturn as well as regulation by the Office of Electronic Communications (UKE) – the office cut mobile termination rates (MTR) in the mobile phone operators’ networks.
The TP SA financial results will be revealed on 23 February 2010.