Nortel Inversora S.A. Announces Consolidated First Half Results for the Fiscal Year Ending December 31, 2013
30 Julho 2013 - 10:16AM
PR Newswire (US)
BUENOS AIRES, Argentina,
July 30, 2013 /PRNewswire/ --
Nortel Inversora S.A. (NYSE: NTL), whose sole
substantial activity is owning 54.741682% of the stock of Telecom
Argentina S.A. ("Telecom") informs that during the second quarter
of 2013 Telecom have purchased 3,273,182 of its own stock. As a
result, the political and economic rights of Nortel were increased
to 54.9243% of the outstanding shares of Telecom as of June 30, 2013. Nortel announces consolidated
income of AR$. 1.468 million for the six-month period ending on
June 30 of fiscal year 2013, of which
AR$. 789 million correspond to Nortel as controlling Company.
Please note that the only source of cash resources of the Company
are the dividends and other distributions received from
Telecom.
Relevant matters
The Annual and Extraordinary General Stockholders' Meeting held
on April 26, 2013 approved, among
others matters:
- The Annual Report and Financials Statements as of December 31, 2012
- To create a Special Reserve resulting from the Adoption of the
IFRS of AR$ 204 million and to allocate an amount of AR$1.466
million to the already existing Voluntary Reserve for the Future
Distribution of Dividends, authorizing the Board of Directors to
approve the timing and amounts to be deducted –and their subsequent
distribution- from the Voluntary Reserve for the Future
Distribution of Dividends, taking into account Nortel's future
liquidity.
(Financial
Tables below)
|
|
SIX MONTH
PERIOD OF FISCAL YEAR ENDING DECEMBER 31, 2013
|
|
(in millions of
Argentine pesos)
|
|
|
|
|
|
|
Consolidated
Income Statement
|
June
2013
|
June
2012
|
|
|
|
Total revenues and
other income
|
12,726
|
10,389
|
Operating
costs
|
( 10,673)
|
(
8,514)
|
Operating
Income
|
2,053
|
1,875
|
Financial results,
net
|
214
|
69
|
Net income before
income tax expenses
|
2,267
|
1,944
|
Income tax
expense
|
(
799)
|
(
701)
|
Net
income
|
1,468
|
1,243
|
Other comprehensive
income
|
29
|
21
|
Total
comprehensive income for the period
|
1,497
|
1,264
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
Balance Sheet
|
June
2013
|
December
2012
|
|
|
|
Current
assets
|
8,989
|
7,000
|
Non-current
assets
|
11,092
|
10,826
|
Total
assets
|
20,081
|
17,826
|
Current
liabilities
|
6,808
|
5,895
|
Non-current
liabilities
|
1,729
|
1,768
|
Total
liabilities
|
8,537
|
7,663
|
Equity attributable
to owners of the parent
|
6,231
|
5,457
|
Noncontrolling
interest
|
5,313
|
4,706
|
Total
equity
|
11,544
|
10,163
|
Total liabilities
and equity
|
20,081
|
17,826
|
|
|
|
|
|
|
Ratios
|
|
|
|
|
|
|
|
|
Liquidity
(a)
|
1.32
|
1.19
|
Indebtedness
(b)
|
0.74
|
0.75
|
|
|
|
(a) Current assets to current
liabilities
|
|
|
(b) Total liabilities to
shareholders' equity.
|
|
|
SOURCE Nortel Inversora S.A.
Copyright 2013 PR Newswire
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