EARNINGS POLL-Orascom Telecom Q4 net seen at $102 mln

Tue Mar 9, 2010 5:24pm GMT
 

 * Orascom Telecom (ORTE.CA: Quote) Q4 earnings
 * Monday, March 15
 * Net profit seen at $102 mln
 
 CAIRO, March 9 (Reuters) - Orascom Telecom (ORTE.CA: Quote), the
Arab world's largest mobile operator by subscribers, is seen
posting steady revenue and EBITDA but a sharp dip in its bottom
line due to a $120 million bill on its Algerian unit.
 A Reuters poll of seven analysts forecast fourth-quarter net
profit at an average of $102 million, down sharply from $181
million in the previous quarter but still higher than a year
ago.
 The company, majority-owned by Weather Investments, runs
operations from North Africa to North Korea. It shares control
of Egypt's Mobinil (EMOB.CA: Quote) with France Telecom (FTE.PA: Quote) but
has controlling stakes in almost all its other ventures.
 Its Algerian unit, Djezzy, was hit with a $597 million bill
for back taxes and penalties in November. The next month Orascom
said it would pay 20 percent, or roughly $120 million, of the
disputed amount to appeal the ruling.
 Earlier this month it lost that appeal and said it would pay
an additional $110 million to appeal again.
 Following is a summary of analyst expectations:
 
                              MEAN         RANGE     NUMBER
Net profit (mln USD):            102        54.6-149        7
Revenue (mln USD):              1,292      1,239-1,323      7
Net margin (pct):                7.9         4.4-11.5       7
EBITDA (mln USD):                566         489-615        6
EBITDA margin (pct):            43.9        39.2-47.2       6
Total subscribers (mln):        88.4        82.7-90.9       5
 
COMPARATIVE FIGURES             Q4 08         Q3 09       FY 08
Net profit (mln USD):             85            181         431
Revenue (mln USD):             1,305          1,291       5,327
Net margin (pct):                6.4             14         8.1
EBITDA (mln USD):                612            578       2,384
EBITDA margin (pct):            46.9           44.7        44.8
Total subscribers (mln):          78           88.9          78
 
 * Please note: Margin figures not provided by analysts were
calculated by Reuters.
 
 Estimates provided by: Beltone Financial, CI Capital,
EFG-Hermes, JP Morgan, Morgan Stanley, Naeem and Nomura.
 
 (Compiled by Alastair Sharp; Editing by David Holmes)

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