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Zenitel Announces Third Quarter Trading Update for 2012

Zenitel Announces Third Quarter Trading Update.

  • Total Revenue in Q3 reached EUR 15.8 million, an increase of 5.2% compared to the same period last year
  • In the first nine months of 2012 revenues grew to EUR 47.4 million, an increase of 4.7%.

For the first nine months of 2012, Zenitel’s revenues reached EUR 47.4 million compared to the EUR 45.2 in the first nine months of 2011, this represents a growth of EUR 2.2 million or 4.7 percent.

Both the Secure Communication Systems (SCS) and the Caribbean Network businesses reported revenue growth of respectively 4.1 and 12.8 percent in the first nine months of 2012. The growth of SCS is due to increased activity in the onshore Vingtor-Stentofon  and Scandinavian project businesses. The Caribbean Network business continues to generate stable revenues from operating its network and sales from stand-alone projects.

We expect to grow the revenues for 2012 above 3% compared to last year and to continue improving our balance sheet through sustained positive results and further debt reduction.