Mannesmann AG, the German industrial group, is continuing to reap handsome rewards from its rapidly expanding telecommunications interests. Reporting figures for the nine month period to September, the company said all of its sectors contributed to positive earnings development but growth was particularly strong from its domestic D2 mobile communications network. Telecoms business saw growth in revenues of 60% to the equivalent of $2,692 in the nine months. Profit figures were not disclosed but the company expects its results for the full year to be significantly higher than in 1996. The earnings contribution from telecommunications will further increase due to the rise at Mannesmann D2, the company said. However, there will be significant costs from the two start-up businesses, Arcor and Eurokom. D2 had a claimed 3.1m subscribers at the end of September, with net addition of more than 100,000 customers per month. The company is also to sign an agreement with satellite consortium Iridium LLC, commencing next September, allowing D2 subscribers to be reached by satellite on their existing number.
