Half year results 2011
Zenitel Turns Positive and is Cautiously Optimistic for 2011.
- Recurrent EBITDA of continuing operations stayed at a level of € 1,9 million, despite a decline in revenues from € 34,3 million last year to € 30,2 million.
- Net result turns positive to € 0,2 million in the first half of 2011 compared to a net loss of € 0,9 million in the first half of 2010.
- Liabilities were further reduced by € 5,4 million since the end of last year.
- Zenitel expects a positive net result for 2011.
Kenneth Dastol, Zenitel Chief Executive Officer, commented:
“During the first half of 2011, Zenitel business continued to improve its profitability as our strategy to focus on our own products and networks started to pay off, even though revenues decreased to € 30,2 million. Orders increased by 11,9 percent compared to the first half of 2010 while the backlog for the rest of the year grew 9,7 percent.
Over the past six months, Zenitel introduced several new products to the market including the serverless “Vingtor-Stentofon Pulse” IP Intercom System, Vingtor-Stentofon recording and redundancy solutions, as well as new IP stations. All offerings have been very well received by the market.
Despite the continuation of the uncertain world-wide market, Zenitel expects to deliver a profitable business for 2011.”
The complete interim financial report, including the condensed consolidated financial statements, can be viewed and downloaded from our website: