DUESSELDORF, Germany-Mannesmann reported that in 1999, the company’s earnings before interest, taxes, depreciation and amortization amounted to $4.24 billion, exceeding the previous year’s level of $3.65 billion.
The company’s telecommunications division generated earnings of about $2.07 billion in 1999, an increase from the previous year’s earnings of $1.28 billion.
Mannesmann noted this was mainly due to the continued success of mobile telecommunications activities and the substantial reduction of start-up losses in the fixed-line business.
Mannesmann also said sales increased 22 percent in 1999 to $22.88 billion, with profits from ordinary activities rising from $1.38 billion in 1998 to $1.48 billion last year.
