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Zenitel Reports Revenue Growth

Zenitel Reports Revenue Growth

  • Revenue increased by 4.5 percent to EUR 31.6 million in the first six months of 2012.
  • Recurrent EBITDA is EUR 2.2 million, compared to EUR 1.9 million last year.
  • Operating profit (EBIT) amounts to EUR 1.0 million versus EUR 0.7 million in 2011.
  • Net profit of EUR 0.3 million against EUR 0.2 million last year.
  • EUR 1.8 million less debt and provisions compared to year end 2011.

 

For the first half of 2012, Zenitel’s revenues increased by 4.5 percent to EUR 31.6 million versus EUR 30.2 million in the same period last year. Both the Secure Communication Systems (SCS) business and the Caribbean Network business reported revenue growth of respectively 4.5 and 5.1 percent. The increase of SCS is driven by more activity in Scandinavian projects while the Caribbean Network business continues to generate stable revenues.

The recurring EBITDA is EUR 2.2 million for the first half of 2012. This is a growth of 14.0 percent compared to last year. Operating profit (EBIT) increased by 37.4 percent to EUR 1.0 million. With an increasing top line, the company continues to benefit from its cost base reduction and margin improvement efforts over the past two years.

Net profit is EUR 0.3 million, compared to EUR 0.2 million last year. During the first six months of 2012, Zenitel continued to pay off debts resulting in a reduction of EUR 1.4 million and a decrease of provisions by EUR 0.4 million.
In March Zenitel launched “Turbine,” its new IP intercom series. The feedback from the market has been positive.

We expect to continue to improve our balance sheet through sustained positive results and further debt reduction.

The complete interim financial report, including the condensed consolidated financial statements, can be downloaded from our website: www.zenitel.com.