The state-owned listed company Telekom Austria increased its net profit by 62.7 percent to €113.8 million in the second quarter of 2020. The half-year result reported was an increase of 30.3 percent to €203.1 million, the company reported, but the management is currently counting on a decline in sales of around 2 percent for 2020.
Profits may have been up in Q2, but revenues declined 2.4 percent to €1.9 billion. This was due in part to a one-off asset sale in 2019 but also by travel restrictions which cut into the company’s usual roaming revenues. Sales over the first six months of the year rose slightly to €2.2bn, but a 2 percent decline for the whole year is anticipated.
