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Zenitel Reports Revenue and Profit Growth

  • Revenues increased by 5.1 percent to EUR 33.2 million in the first six months of 2013.
  • Recurrent EBITDA is EUR 2.3 million, a growth of 5.5 percent compared to the previous year.
  • Operating profit (EBIT) amounts to EUR 1.4 million versus EUR 1.0 million in 2012.
  • Net profit is EUR 0.9 million against EUR 0.3 million the previous year.

The revenues of Zenitel increased by 5.1 percent to EUR 33.2 million versus EUR 31.6 million in the same period the previous year. Revenues from Secure Communication Systems (SCS) grew 5.6%, driven by increased activity in Vingtor-Stentofon , in line with growth strategy. The Caribbean Network business continues to generate stable revenues in line with the previous year.

The recurring EBITDA was EUR 2.3 million for the first half of 2013. This is a growth of 5.5 percent compared to the previous year. Operating profit (EBIT) increased by 40.2 percent to EUR 1.4 million. The operating expenses are higher than the previous year due to the continued investment in sales, marketing and R&D. In May, Zenitel launched “EXIGO”, Zenitel’s new IP-based Public Address/General Alarm (PA/GA) system.

Net profit was EUR 0.9 million compared to EUR 0.3 million the previous year.

Zenitel expects to continue the positive trend for the remainder of the year.

The complete interim financial report, including the condensed consolidated financial statements, can be downloaded from Financial Reports.