Příspěvky nebo odpovědi uživatele PRIBINA 2v1

(Adds forecasts, Brazil details from conference call)

By Robert Hetz

MADRID, Feb 28 (Reuters) - Spain's Telefonica Moviles <TEM.MC> said on Tuesday net profit grew 13.5 percent in 2005, just short of expectations, with strong revenue growth, particularly in Latin America.

Moviles, part of the Telefonica group <TEF.MC>, which reports on Wednesday, missed analysts' forecasts for the bottom line because it took an unexpected 89 million euro charge to write down the remaining value of its UMTS licence in Italy, leaving net profit at 1.92 billion euros ($2.3 billion).

Analysts polled by Reuters had predicted a profit rise of 17.6 percent, on average, to 1.99 billion euros.

The company forecast revenues and operating income before depreciation and amortisation (OIBDA) would both rise by 9 to 12 percent in 2006, while capital expenditure was likely to be lower than last year's 2.33 billion euros.

Moviles said that in Spain, where more than 50 percent of its revenues are generated and 70 percent of OIBDA, it expected revenues to grow between 3 and 6 percent in 2006, though operating margin would shrink due to growing competition.

Revenues and margins were expected to see strong growth in Latin America, but the company did not go into details.

The company's shares, which are relatively illiquid, ended down 1 percent at 9.85 euros, while the DJ Stoxx European telecoms index <.SXKP> was 1.68 percent lower. Shares in parent Telefonica were flat.

OIBDA climbed to 5.82 billion euros, above the 5.69 billion euros forecast.

That was a 23.4 percent increase at constant exchange rates and in line with the company's guidance, it said. Otherwise the increase was 26.8 percent.

Moviles posted a 40.5 percent rise in revenues to 16.51 billion euros, in part due to the integration of 10 Latin American branches bought from Bellsouth <BLS.N>. Analysts had projected a 39.6 percent increase.

"In general, these are good figures. We like the trend in revenues in Latin America, especially Venezuela and Colombia," said Juan Tuesta, analyst at broker Banesto Bolsa.

Moviles declined to comment on its plans for its Brazilian joint venture, Vivo, with Portugal Telecom <PTC.LS>, which is the subject of a takeover offer by conglomerate Sonae <SON.LS>.

"We are very committed to our asset in Brazil. We believe it is the leading company, and we are ready to develop it. But at this moment we don't know if PT has any asset for sale," CEO Antonio Viana-Baptista told analysts.

DIVIDEND

The firm, 93 percent owned by Telefonica, is proposing a dividend of 0.205 euros per share

MADRID, March 1 (Reuters) - Spanish telecoms giant Telefonica <TEF.MC> said on Wednesday its 2005 net profit rose 40 percent to 4.45 billion euros ($5.28 billion), above market expectations, boosted by a swelling customer base and acquisitions such as Cesky <SPTTsp.PR>.

In a Reuters poll of 11 analysts, Telefonica was on average expected to report a 36 percent rise in net profit to 4.3 billion euros.

Operating income before interest, depreciation and amortisation (OIBDA) climbed 25 percent to 15.28 billion euros versus 15.01 billion euros expected in the poll.

Revenues rose 25 percent to 37.88 billion euros versus 37.55 billion expected in the poll, boosted by the incorporation of new Latin American units and Cesky, as well as natural growth in businesses such as fast Internet access.

((Reporting by Elisabeth O'Leary and Robert Hetz; Editing by Elizabeth Fullerton; Reuters Messaging: elizabeth.oleary.reuters.com@reuters.net; +34 91 585 2160;madrid.newsroom@reuters.com)) ($1=.8421 Euro)