ecotel obtains € 5 million innovation loan
Investment in new development projects sets the base for further growth
€ 2.5 million of the loan amount comprise a debt capital tranche of Commerzbank with a maturity of 10 years and amortization starting after 2 years.
The other 2.5 million euros of the loan are the subordinated tranche of KfW with a maturity of 10 years and amortization starting after 7 years.
"We have significantly strengthened our financial leeway. Now we can implement the planned development projects at a faster and better pace. For ecotel this is a clear growth driver" says Bernhard Seidl, CFO of ecotel.
The new loan increases the liquid funds of the company. Due to the "equity character" of the subordinated loan it also improves the covenants "ratio Net Debt to EBITDA" as well as the "equity ratio "of the running loans.
ecotel expects to generate revenues of appr. € 100 million and to generate an EBITDA adjusted for extraordinary cost and revenues of € 5 - 5.5 million for 2009.
ecotel publishes its third quarter figures on November 13, 2009.
ENO telecom GmbH
ecotel is a publicly listed telecommunications company which operates in Germany and focuses on three business divisions.
In its core division "Business Customers" the company offers an integrated product portfolio of voice, data and mobile services. ecotel meanwhile serves appr. 35.000 business customers within Germany with standardised and individual telecommunications solutions and consistently implements its fixed mobile convergence (FMC) strategy.
In its second division "Wholesale Customers" the company provides carrier and wholesale services to other telecoms operators and to non-industry distributors.
ecotel deploys state of the art enabling and switching platforms in order to provide its product portfolio (unbundled local loops, broadband access lines, mobile services) to other resellers. At the same time the company achieves economics of scale and broadens its value chain for its own core business "business customers".
The division "New Business" contains ecotel's fast growing subsidiaries and new ventures. Apart from PPRO, easybell, ecotel private and toBEmobile this division also includes the New Media business, which has been transferred into this unit.
ecotel was founded in 1998 and is headquartered in Düsseldorf. At present, the group has appr. 200 employees. It is among the fastest growing technology companies and was ranked among the top 50 companies in the Deloitte "Technology Fast 50" competition for the past four consecutive years.