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Alcatel-Lucent narrows Q1 loss

first_imgHome Alcatel-Lucent narrows Q1 loss Steve Costello Related Nokia details Digital Health review; further job cuts Tags Author Alcatel-LucentChina HuaxinFinancial Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Previous ArticleConvergence key to TD-LTE growthNext ArticleTelefonica suffers revenue and profit fall in Q1 Loss-making network infrastructure player Alcatel-Lucent reduced the amount of red ink used in the first quarter of 2014, as the impact of its broad restructure began to take effect.Michel Combes (pictured), CEO of Alcatel-Lucent, said: “We began 2014 as we ended 2013 – totally focused on driving implementation of The Shift Plan. Having put the group in the right financial direction last year we are encouraged by the continued progress shown in the first quarter of 2014.”According to Reuters, Jean Raby, CFO, said the company is still on-track to sell €1 billion of assets, as previously stated, but did not provide further details.The company reported a loss of €73 million for the period, compared with a prior-year loss of €353 million, on revenue of €2.96 billion, down from €3.23 billion. It also provided revenue figures treating its Enterprise unit as a discontinued operation (it has inked a deal to sell this unit): on this basis, the figure would have been essentially flat.It said that the reduced loss was driven by higher operating income, lower restructuring charges, and a “significant reduction in net financial losses”.Revenue from the company’s Wireless Access unit was €999 million, down from €1.01 billion in Q4 2014, although it claimed a 2.3 per cent increase at constant exchange rates and comparable perimeter.It said that in the first quarter, LTE growth continued to be strong, notably in the US. This increase was partially offset by continued declines in 2G and 3G technologies, which represented less than 25 per cent of wireless access revenue in Q1.The company noted wins including LTE overlay deals with Claro Uruguay, Etisalat and APT (Taiwan), and small cell announcements including Verizon Wireless and TIM in Brazil.Looking forward, the company is expecting China to drive wireless revenue in Q2, although this could impact margin, Reuters said.Alcatel-Lucent also noted that its Managed Services revenue halved, reflecting moves to terminate or restructure loss-making contracts.On a group level, cash flow continued to be a concern. It reported a free cash flow defecit of €398 million for the quarter, although this was reduced from a €533 million outflow in the prior-year.The deal to sell the Enterprise business to China Huaxin is due to close in Q3, subject to certain approvals. Alcatel-Lucent will retain a 15 per cent stake in the unit. AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 09 MAY 2014 Nokia downplays impact of Alcatel-Lucent probe Nokia slashes Alcatel-Lucent jobslast_img read more


Nigeria: Willing buyer, willing seller arrangement to solve power challenges

first_imgOsinbajo noted that if the generation companies do not have the resources to produce electricity, that presents an opportunity for companies, can take up the responsibility to make power available when needed, report The Guardian. BRICS Osinbajo continued: “We think that to solve Nigeria’s problem is not to rely on the grid, but to decentralise so that more power companies can produce power where they would sell at a tariff that will not be regulated.” “People are fed up with estimated billings, and that hascreated a problem everywhere, but we believe we will be able to makesignificant progress using alternative sources of power which is the willing buyerwilling seller arrangement.” Finance and Policy TAGSbillingdiscosNigeriatariffs Previous articleCiti bank announces first €1 billion green bondNext articleIncreased solar power to boost Uganda’s electricity sector Babalwa BunganeBabalwa Bungane is the content producer for ESI Africa – Clarion Events Africa. Babalwa has been writing for the publication for over five years. She also contributes to sister publications; Smart Energy International and Power Engineering International. Babalwa is a social media enthusiast. He further highlighted that at the moment, one of the problems that Discos have is that tariffs are regulated, as a result they are not cost reflective. Read more: TCN to evacuate power from Mambila hydropower plant Vice-President, Prof. Yemi Osinbajo AFD and Eskom commit to a competitive electricity sector Solving power challenges Low carbon, solar future could increase jobs in the future – SAPVIA RELATED ARTICLESMORE FROM AUTHOR Osinbajo continued: “So this willing buyer, willing seller is one that we think will solve the problems. We also intend to focus on renewable energy. We believe that the way to go is this willing-buyer, willing-seller for industries, homes etc. “We have what we call the eligible customer declaration, which is, if you are able to generate power, you can sell your power on a willing buyer or willing seller basis,” he said. According to the country’s Vice-President, Prof. Yemi Osinbajo, the federal government is looking into the ‘willing buyer, willing seller policy’ as one of the solutions to addressing Nigeria’s power challenges. Generation “In other words, it is not enough to cover the cost of distributing the power,” the Vice-President pointed out. Image credit: Stock UNDP China, CCIEE launch report to facilitate low-carbon developmentlast_img read more