VIENNA, April 24 (Reuters) - Telekom Austria, a unit of Mexican tycoon Carlos Slim’s America Movil, reported a 1.5 percent rise in first-quarter core profit, helped by currency effects.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 339.5 million euros ($368.09 million) on revenue of 1.06 billion euros, the group said on Monday.
The 4.9 percent increase in revenues was helped by strong demand in Belarus, where Telekom Austria also benefited from a 12.5 percent appreciation of the local currency versus the euro over the period, the company said.
Revenue in its major market Austria rose 2 percent, helped by strong demand for fixed-line broadband services.
“In Austria, strong competition in the mobile market will persist and is anticipated to remain,” the group said in its quarterly report. In its eastern European markets Telekom Austria expects competitive pressure and a weak economic environment to persist.
The group, which Slim sees as a base for further expansion into central and eastern Europe, confirmed it expects full-year revenue to rise by around 1 percent. ($1 = 0.9223 euros) (Reporting by Kirsti Knolle; Editing by Adrian Croft)