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Strahle-Obermann Disappointed The Stock Market
By Michael Kröger
Telekom chief René Obermann has his first annual report presented - at first glance, the figures are quite passable. For basic problems, the ambitious new but still no solution. The T shares.
Berlin - The development of the share price, he wanted to be measured. At least following the development of markets and competition must Telekom shares, said Telekom chief René Obermann a year ago. If this does not succeed, then had his task is not good enough.
Nor is the period of approximately two years elapsed, the top man has set itself. But the annual balance sheet, he and his colleague from the financial department, Karl-Gerhard Eick, presented today, is an important milestone.
REUTERS
Telekom boss Obermann: 14,000 employees of the salary list eradicated
In this context, the reaction of investors, such as a blue letter scored, with the semi-annual testimony is sent: In relation to other values Dax cut Telekom
pretty bad today, although some of the losses due to be expected that the telecom industry as a whole was little demand. Also seen over years, the T-Share not as a starter - a little, it has caught up, nothing more.
The price today is more of the fact that the spark that not really wanted to skip. These are the figures themselves, quite satisfactory. Despite high cost of rebuilding the group and strong competition on the domestic market had adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) 2007 with 19.3 billion euros, slightly above the target of around 19 billion euros.
Employees pay the highest price
good memories, however, is the price that many telecom employees for the drastic had to pay. Because it was primarily the removal of bodies, contributed to the savings with 2.3 billion euro even higher than initially planned. 40 percent of the total savings are personnel costs, as Eick said today. 2007 had a total of 14,400 employees left the company. In addition to the sale of call centres were the employees of early retirement, part-time retirement, severance payments and natural fluctuation of the salary list disappeared.
To summarize, the job cuts meant that personnel costs alone at home by eight percent to 9.5 billion euros could be reduced. With included, according to Obermann also the first effects of the outsourcing of some 50,000 service personnel in the Group companies. These need to work longer hours and earn significantly less. For a transitional period, however, like the telecom income or loss.
were accompanied the negotiations on the 2007 removal from a weeklong strike. The union Ver.di has already threatened with further conflicts, the telecom business customer division T-Systems sale. The fact that on this front no rest einkehren appears secure. Even in the coming years, the savings efforts in Upper man in the foreground. The staff restructuring will continue, he announced. By year's end, Telekom will the number of employees without compulsory redundancies to reduce 32,000. Until 2010, the Telekom boss the cost of the Group by a further 4.7 billion euros press.
Service remains the most important site
Now the Aderlass the employee reasonably, from the perspective of investors, in principle, no reason to complain - as the cynical may sound. Nevertheless, it is important, because as a company whose business model is central to the service for customers is based, the Telekom motivated staff. Self-Critical Obermann still had a year ago, acknowledged that in terms of customer orientation enormous backlog. The mood remains, not least because the staff discussion at the zero point. The result: "From an optimal service, we are in many places is still far away," admitted T-Home Executive Tim Höttges recently in an interview with the business magazine "Capital".
how little happens in this area is also evident from the scandal of thousands of complaint letters, the Service Employees simply ignored. According to ver.di before the work was due to the strike against the outsourcing of service sector last year and the repeated restructuring of the group lie. Höttges, the matter is now the chief cause.
In other respects, Lord's performance could be improved: people fleeing in the fixed network division was also last year not stopped - no wonder: 2.1 million contracts were terminated 2007, more than in the disaster year of 2006. Overall, so since 2002 19.8 million fixed line customers of Telekom backs.
U.S. end of the boom in sight
That is in the annual balance still enough for an increase is mainly due to the flourishing mobile phone subsidiary in the United States. To at least 14.6 percent, T-Mobile USA the number of its customers increase the Group amounted to 10.3 percent growth. But experts here to report the first doubts about whether the
Growth story nor other chapters can be extended. Thus, experts from the Landesbank Baden-Wuerttemberg from a significant slowdown in demand in the U.S.. "T-Mobile USA is expected as growth locomotive of the group slowly out of steam," says the study.
But not only the economic slowdown in the U.S. is some fear. As far as the future of mobile telephony, mobile telephony can freak Obermann the necessary answers for the future are missing.
After consistent assessment of experts, it is only a matter of time before the - simple - access to the Internet from your mobile phone to include basic equipment. The expensive broadband technology, UMTS, in this context, only a small impact. Only the Apple iPhone
That this standard can not use one of the most serious harbinger of the new age.
fact that UMTS will play a minor role, to ensure the rapid dissemination of Wi-Fi hotspots, here as in the U.S.. But for the telecom not nearly as lucrative as the mobile broadband. Nevertheless, a tight-knit wireless network for conviction of experts from the Royal for a secure future in the mobile Internet. Alone - as something to reach would be silent about Telekom.
With material from Reuters
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