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Zenitel reports continuing profitability for 2017

  • Total revenue amounted to 60.6 million euro compared to 63.5 million euro in 2016.
  • EBITDA was 5.4 million euro, compared to 4.8 million euro last year.
  • EBIT amounted to 3.8 million euro, compared to 2.5 million euro in 2016.
  • Income tax expense for 2017 amounted to 0.9 million euro, compared to 0.1 million euro last year.
  • Net profit from operations was 2.5 million euro, compared to 2.6 million euro in 2016.
  • Financial cash position of 18.9 million euro at the end of the year, compared to 19.2 million euro last year.

Improvements despite challenging market

Kenneth Dastol, CEO of Zenitel, commented: “We are very pleased with the operational performance of the Group in 2017. Despite challenging market we have again improved operational performance by focusing on efficiency gains and cost improvement programs resulting in a 53.6% improvement in our EBIT figures.

Reduced investments in the Oil and Gas industry over the last years have negatively affected the Maritime market in 2017. Worldwide the total amount of shipyards has been reduced to less than half of what is was in 2008. Zenitel’s revenues have been affected by less activity in these markets, hence the decrease in revenue of 4.6%.

Towards the end of last year, Zenitel unveiled its new tagline: “because communication is critical”. Although the change is a subtle one, it reflects that we are far more than just an intercom company; we are in the business of delivering “intelligent communication” solutions, with built-in intelligence that can adapt to realworld environments, ensuring our customers can hear, be heard and be understood - every time.

Our offering is not limited to when communication is critical; rather, it supports the reality that communication is always critical for the operational needs of any business. In 2018 we will continue our strategy, build business in our focus markets and continue to invest in more resources in sales, marketing and development.”

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