Netia guidance for FY 2014, medium-term Strategic Financial Goals withdrawn (7/2014)
Management expects 2014 to be a year of consolidation with a focus on providing the foundations for the newly established B2B and B2C Business Units, dedicated to best support the needs of business and residential customers, respectively, to deliver accelerating performance in future periods.
While Management expects to continue growth in on-net services with broadband, TV and B2B services all registering growth, the short-term priority will be to add additional product features, improve processes and reduce the cost base in order to sell more effectively in subsequent years. Accordingly, guidance is being limited to key financial measures with no RGU guidance being provided.
The Group’s medium-term strategic financial guidance, which was put under review in November 2013 at the time of publishing Q3 2013 results (see Netia’s current report No. 45/2013), is today being withdrawn. Management will await the results of the next mid-term perspective planning round together with the Company’s Supervisory Board and which will be undertaken with key input from the two new, more autonomous B2B and B2C Business Units before deciding on whether to once again issue such medium-term guidance.
The detailed 2014 guidance is presented in an attachment below.