BUENOS AIRES, Argentina, March 10 /PRNewswire-FirstCall/ -- Nortel Inversora S.A. , 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
Nortel Inversora S.A.
CONTACT: Jose Gustavo Pozzi, Nortel Inversora S.A.,
+011-5411-4-968-3630
