Zenitel reports continued growth in first Half-Year
- Revenue increased by 9.2 percent to EUR 37.2 million in the first six months of 2015.
- EBITDA is EUR 2.5 million, 8.7 percent higher than last year.
- Operating profit (EBIT) amounts to EUR 1.6 million, which is 14.3 percent better than 2014.
- Net profit of EUR 1.5 million against EUR 0.6 million last year.
Zenitel’s revenue increased by 9.2 percent to EUR 37.2 million versus EUR 34.1 million in the same period last year. The revenue from the Secure Communication Systems (SCS) business increased by 7.2 percent. The Caribbean Network business continued to generate stable revenues in line with the previous years in local currency.
The EBITDA and Operating Profit (EBIT) are up by EUR 0.2 million for the first half of 2015. The operating expenses are higher than last year as the Company continues to invest in sales, marketing and R&D. The acquisition of Nor-Electronics contributed with a revenue of EUR 1.4 million and a break-even result.
Net profit is EUR 1.5 million, compared to EUR 0.6 million last year. The deviation is mainly related to positive exchange rate effects and lower interest costs. The Company is impacted by reduced investments in the Oil & Gas market that are expected to continue for the next twelve months. Zenitel is however focusing on multiple markets and therefore expects second half-year results to be in line with last year.