Orange Polska with lower-than-expected Q3 profit

WSE-listed Polish telecom, posted a PLN 140 million attributable net profit in Q3, nearly 20 percent below the consensus. The company revenues dropped by 4.7 percent year-on-year to PLN 3.046 billion, while EBITDA measured PLN 1.04 billion (10.7 percent drop y/y). Mobile revenues declined 2.1 percent q/q and 5.9 percent y/y to PLN 1.425 billion, while the fixed-line business contracted by 0.9 percent q/q and 8.5 percent y/y to PLN 1.373 billion. Orange managed to partially offset revenue declines with cost cuts. Employee costs were down 1.5 percent q/q while the costs of external purchases fell 3.6 percent q/q. The company claims PLN 80 million in cost savings in Q3.