Netia with lower than expected Q3 loss

Polish WSE-listed telecom Netia reported a net loss of PLN 4.4 million Q3 loss, below the PLN 5.4 million figure consensus. Revenues declined 9.3 percent year-to year to PLN 413 million (0.3 percent decline q/q). Adjusted EBITDA measured PLN 120.3 million, down 4 percent q/q. EBITDA was at PLN 109.5 million, down 9 percent q/q. “What makes us believe that we will be able to provide profitability growth [in Q4] is the kick-in effect of cost cutting measures the firm will continue in Q4 and 2015,” company's CFO Paweł Szymański was quoted by the Polish Press Agency as saying, he also said that the company will reach its 2014 guidance. “Given the trends we are observing, we see no reason to alter it,” he explained.