UPDATE 2-Accounting issue hits Telekom Austria results

miércoles 13 de agosto de 2014 03:44 GYT

* Austrian unit takes accounting charge of 48 mln eur

* Q2 EBITDA 299 mln eur vs Reuters poll avg 320 mln eur

* Company trims 2014 revenue, capex outlook (Adds details on net loss, underlying results, Austria)

By Georgina Prodhan

VIENNA, Aug 13 (Reuters) - Telekom Austria said an unexpected accounting issue overshadowed improvements at its Austrian business and pushed it to a bigger than forecast loss in the second quarter.

The former state monopoly, which was taken over by Carlos Slim's America Movil last month, said new accounting software revealed it had overestimated unbilled revenues in its Austrian fixed-line business.

This led to a one-off adjustment to turnover of 48 million euros and a negative effect on net profit of 28 million euros, in the second piece of bad news since Slim launched the takeover offer that brought him a 51 percent stake.

Telekom Austria, which Slim wants to use as a platform for expansion in central and eastern Europe (CEE), wrote down its Bulgarian unit by 400 million euros in June, while the takeover offer was in progress.

The writedown and the accounting problem pushed it to a net loss of 359 million euros in the quarter from a profit of 52 million euros a year earlier.   Continuación...