Annual Results 2007
Zenitel announces its annual results 2007.
Recurrent EBITDA of Zenitel around break-even (EUR -0.2 million).
Lower Revenues primarily due to the sale of subsidiaries in 2006, 2007 (EUR – 10.1 million) and a decrease in the System Integration business, mainly in the Netherlands and Belgium.
In view of the weaker than expected revenues in the ‘traditional’ product distribution area and in order to realize new types of integrations and services, Zenitel started to reorganize the System Integration business, by right-sizing certain segments, resulting in a one-time restructuring cost of EUR 5.4 million.