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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.435+8.7%Jan 2 9:30 AM EST

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To: David R. Doerr who wrote ()11/12/1997 9:17:00 AM
From: Joel Green   of 22640
 
Thought this was interesting information on Telebras:

SAO PAULO, Nov 11 (Reuters) - The following table shows forecasts by 10 foreign and Brazilian banks on consolidated 1997 financial results for Telebras , the federal telecommunications holding company.

Bank analysts on average forecast per-share earnings of $9.94 on net profit of $3.28 billion, versus forecasts of $10.05 and $3.28 billion, respectively, made after the release of the company's first-half financial results.

Telebras, Brazil's benchmark blue chip, accounts for more than 50 percent of daily trade on Brazil's stock exchanges and is a leading American Depositary Receipt in New York.

The survey is updated every three months, following the release of Telebras quarterly results.

==============================================================

Telebras Corporate Forecast

--------------------------------------------------------------

1997 EPS Net Profit Net Sales Oper Income

--------------------------------------------------------------

BankBoston $9.83 $3.041 bln $13.723 bln $5.121 bln

Caspian $9.15 $3.032 bln $14.362 bln $5.214 bln

CS FirstBoston $9.50 $3.051 bln $13.872 bln $5.037 bln

Flemings $9.02 $3.014 bln $13.750.bln $4.944 bln

FonteCindam $9.87 $3.394 bln $14.162 bln $5.446 bln

ING Barings $10.16 $3.281 bln $15.570 bln $5.435 bln

Lloyds Asset $10.92 $3.500 bln $14.500 bln $5.000 bln

Merrill Lynch $9.08 $3.100 bln $14.277 bln $4.669 bln

Morgan Stanley $10.03 $3.601 bln $16.016 bln $6.032 bln

Pactual $11.80 $3.783 bln $15.934 bln $6.284 bln

==============================================================

1997 EBITDA Fixed Lines Cellular

---------------------------------------------------------------

BankBoston $8.754 bln 15.00 million 4.00 million

Caspian $8.986 bln 15.07 million 4.41 million

CS FirstBoston $8.665 bln 15.28 million 3.97 million

Flemings $8.592 bln 15.01 million 4.44 million

FonteCindam $9.051 bln 15.00 million 4.14 million

ING Barings $8.959 bln 15.26 million 4.96 million

Lloyds Asset $8.826 bln 15.45 million 3.83 million

Merrill Lynch $8.290 bln 14.92 million 3.66 million

Morgan Stanley $10.326 bln 15.21 million 4.12 million

Pactual $9.851 bln 15.73 million 4.97 million

===============================================================

Consensus Forecasts

Average Median Last Year

EPS $9.94 $9.85 $8.60

Net Profit $3.280 bln $3.191 bln $2.739 bln

Net Sales $14.617 bln $14.320 bln $12.413 bln

Oper Inc $5.318 bln $5.168 bln $3.719 bln

EBITDA $9.030 bln $8.993 bln $7.262 bln

Fixed Lines 15.19 mln 15.14 mln 13.46 mln

Cellular 4.25 mln 4.13 mln 2.450 mln

============================================================= NOTE: Figures are consolidated and in U.S. dollars, except for fixed lines and cellular columns, which refer to number of lines in service at year's end.

((-- James Craig, Sao Paulo newsroom 5511 248-5413))

-- E-Mail: james.craig@reuters.com

REUTERS

Rtr 16:42 11-11-97

Sorry the info is a bit jumbled but I think you can figure it out.
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