- Turnover of continuing business of 66,4 million Euro, compared to 70,1 million Euro last year due to lower marine and project business.
- Recurrent EBITDA of continuing business is 4,2 million Euro, compared to 4,6 million Euro last year.
- 2010 net result was impacted by 1,6 million Euro non recurrent charges all related to discontinued business, resulting in a net loss of 1,5 million Euro compared to a net loss of 8,1 million Euro in 2009.
Kenneth Dastol, Zenitel Chief Executive Officer, commented:
“Zenitel made a strategic move in 2009 by divesting its inefficient entities and focusing on its profitable activities – Secure Communication Systems (SCS) and the Caribbean Network. In spite of the 1,1 million Euro negative currency effect EUR/NOK on operating expenses, the company confirmed its profitability for 2010.
Zenitel had a revenue increase of 32 percent in the Caribbean due to coverage expansion to the BES islands and a 23 percent growth in the STENTOFON USA operation. However, the overall revenues were down 5,3 percent due to a decrease in the worldwide marine market and project business in Scandinavia."