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ecotel communication ag: ecotel continues its profitable growth path
ecotel communication ag / Half Year Results
EBITDA was EUR 1.7 million and stayed on previous year level compared with the adjusted second quarter figures* of 2007. EBITDA for the first six months was EUR 3.4 million. EBIT in the second quarter was EUR 0.9 million and was on par level with the adjusted previous year results despite higher depreciation of intangible assets and 2007 investments. In the first six months EBIT was EUR 1.6 million. Earnings per share amounted to EUR 0.19 and EUR 0.26 adjusted for deferred taxes.
The equity ratio grew from 45% to 46% compared with the first quarter, cash amounts to more than EUR 4 million. The generated operating cash flow is used to pay back liabilities to banks and to finance the future growth. Net debt was therefore reduced by EUR 2 million to EUR 12.0 million since the beginning of this year. ecotel considers 2008 as the year of consolidation and new orientation. The company focuses on the integration of the acquired companies and plans to leverage the synergies. Beyond this ecotel expects to identify new growth potential in all business segments.
After solid first six months the prospects continue to be positive. The company expects to continue its revenue growth in the second year of 2008 and to reach its targets. The company expects to generate revenues of EUR 100 - 110 million and to generate an EBITDA adjusted for extraordinary cost and revenues of appr. EUR 7 million.
*A comparison with the previous year figures is of limited value due to the fact that the 2007 figures contain significant one time revenues. In addition, the quarterly and first half financial figures of 2007 included insufficient provisions for 'unexpected' costs at nacamar GmbH, which were readjusted only in the third quarter of 2007.
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