Half Year Results 2007
Zenitel announces its half year results 2007.
Operational results reflect the implementation of the chosen strategy and the weaker than expected distribution of 3rd party end-user products.
The investment in an end-to-end VoIP AlphaCom-E platform continues to excel, resulting in double digit revenue growth and a doubling of the EBITDA1 contribution for Zenitel’s Intercom offering.
TETRA network operations2 delivered an EBITDA break-even result, reflecting our sales and marketing focus on long term contracts which, by nature, have longer lead times in an emerging segment of the security market.
Zenitel experienced weaker than expected demand in the traditional system integration business. The planned shift towards higher margin solutions was yet unable to compensate the faster than expected decline of the lower margin turnover of 3rd party products.
Colsys was successfully divested as announced previously.
Following the capital increase and the conclusion of a long term loan from an institutional investor, Zenitel has substantially improved its balance sheet and liquidity position.