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Nortel Inversora S.A. Announces Consolidated Annual Results for the Fiscal Year Ending December 31, 2009
BUENOS AIRES, Argentina, March 10 -- Nortel Inversora S.A. (NYSE:NTL), whose sole substantial activity is owning 54.741682% of the stock of Telecom Argentina S.A. ("Telecom") and whose sole substantial source of cash income is cash dividends and other distributions paid on such stock, today announced consolidated net income of Ps. 758 million for the fiscal year ended December 31, 2009.
Nortel's consolidated financial results for the fiscal year ended December 31, 2009 are substantially similar to Telecom's results for the same period, after accounting for minority interest and financial income and expenses at the holding-company level.
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FINANCIAL TABLES BELOW
NORTEL INVERSORA S.A.
FISCAL YEAR ENDING DECEMBER 31, 2009
(In millions of Argentine pesos, except statistical and ratio data)
Consolidated Balance Sheet 2009 2008
Current assets 2,927 2,600
Non-current assets 7,690 7,051
Total assets 10,617 9,651
Current liabilities 4,176 4,075
Non-current liabilities 936 1,487
Total liabilities 5,112 5,562
Minority interests 2,552 1,900
Total shareholders' equity 2,953 2,189
Total liabilities and shareholder's equity 10,617 9,651
Consolidated Income Statement
2009 2008
Net revenues 12,226 10,608
Cost of services provided
administrative and selling expenses (9,468) (8,570)
Operating Profit 2,758 2,038
Equity gain from related companies 13 ------
Financial results, net (331) (266)
Other, net (234) (271)
Income tax (797) (535)
Minority interest (651) (447)
Net Income 758 519
Ratios
2009 2008
Liquidity (a) 0.70 0.64
Indebtedness (b) 0.93 1.36
(a) Current Assets to current liabilities
(b) Total liabilities to shareholders' equity plus third party interests.
Contact:
Jose Gustavo Pozzi
Nortel Inversora S.A.
(5411) 4 968-3630
Source: Nortel Inversora S.A.
CONTACT: Jose Gustavo Pozzi, Nortel Inversora S.A.,
+011-5411-4-968-3630
Nortel Inversora S.A. Announces Consolidated Annual Results for the Fiscal Year Ending December 31, 2009
BUENOS AIRES, Argentina, March 10 -- Nortel Inversora S.A. (NYSE:NTL), whose sole substantial activity is owning 54.741682% of the stock of Telecom Argentina S.A. ("Telecom") and whose sole substantial source of cash income is cash dividends and other distributions paid on such stock, today announced consolidated net income of Ps. 758 million for the fiscal year ended December 31, 2009.
Nortel's consolidated financial results for the fiscal year ended December 31, 2009 are substantially similar to Telecom's results for the same period, after accounting for minority interest and financial income and expenses at the holding-company level.
- - - - - - - - - - - - - - - - - - - - - - - -
FINANCIAL TABLES BELOW
NORTEL INVERSORA S.A.
FISCAL YEAR ENDING DECEMBER 31, 2009
(In millions of Argentine pesos, except statistical and ratio data)
Consolidated Balance Sheet 2009 2008
Current assets 2,927 2,600
Non-current assets 7,690 7,051
Total assets 10,617 9,651
Current liabilities 4,176 4,075
Non-current liabilities 936 1,487
Total liabilities 5,112 5,562
Minority interests 2,552 1,900
Total shareholders' equity 2,953 2,189
Total liabilities and shareholder's equity 10,617 9,651
Consolidated Income Statement
2009 2008
Net revenues 12,226 10,608
Cost of services provided
administrative and selling expenses (9,468) (8,570)
Operating Profit 2,758 2,038
Equity gain from related companies 13 ------
Financial results, net (331) (266)
Other, net (234) (271)
Income tax (797) (535)
Minority interest (651) (447)
Net Income 758 519
Ratios
2009 2008
Liquidity (a) 0.70 0.64
Indebtedness (b) 0.93 1.36
(a) Current Assets to current liabilities
(b) Total liabilities to shareholders' equity plus third party interests.
Contact:
Jose Gustavo Pozzi
Nortel Inversora S.A.
(5411) 4 968-3630
Source: Nortel Inversora S.A.
CONTACT: Jose Gustavo Pozzi, Nortel Inversora S.A.,
+011-5411-4-968-3630