Telstra sees profit fall 40%

Company News

by Rachael Jones

Telstra (ASX:TLS) released their full year results for financial year 2019, showing their net profit after tax decreased 39.6 per cent to $2.1 billion.

Total Income decreased 3.6 per cent to $27.8 billion.

EBITDA decreased 21.7 per cent to $8.0 billion.

This was in line with expectations due to the impact of the nbn.

Telstra absorbed around $600 million of negative recurring EBITDA headwind in the period.

To date Telstra estimates the nbn has adversely impacted EBITDA by approximately $1.7 billion since FY16, and estimates it is around 50 per cent of the way through the recurring financial impact of the nbn.

As expected, the full-year dividend was cut to 16 cents per share.

Shares in Telstra (ASX:TLS) closed 0.25 per cent higher at $3.94 yesterday.  

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.