VIENNA: Telekom Austria said the decline in its core profit slowed to 5 percent its the first quarter and said its turnaround strategy was showing the first signs of success.

The telecoms operator, which will soon be controlled by America Movil, posted adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 320 million euros ($446 million) on Thursday.

Analysts had expected EBITDA of 319 million euros, according to a Reuters poll. Telekom Austria reiterated it expected full-year revenues to decline 3 percent after a fall of 7 percent in the first quarter, and capital expenditure to remain stable at around 700 million euros.