The Supervisory Board of RTX Telecom A/S has today considered and adopted the Group's interim report for the first six months of the financial year 2008/09 (covering the period 1 October 2008 to 31 March 2009). Summary of the interim report of the RTX Telecom Group for the first six months of 2008/09 • In the second quarter of 2008/09, revenue from continuing operations amounted to DKK 57.8 million compared to DKK 57.0 million in the same period last year. In the first six months of the financial year, revenue amounted to DKK 110.9 million compared to DKK 108.7 million in the same period last year. • In the second quarter of the financial year 2008/09, operating profit/loss (EBIT) from continuing operations amounted to a loss of DKK 6.5 million compared to a loss of DKK 5.0 million in the same period last year. In the first six months of the financial year, EBIT amounted to a loss of DKK 19.8 million compared to a loss of DKK 16.0 million in the same period last year. • The Group's cash and short-term current asset investments less bank debt amounted to DKK 80.9 million at 31 March 2009, which is a decrease of DKK 26.0 million compared to the same time last year. • In April 2009 the Group entered into an agreement with the Mexican teleoperator Marcatel on a turnkey project in northern Mexico, see Announcement No. 9/2009. This is an essential breakthrough for the Group's strategy for RTX Network Systems. • The Group maintains revenue and earnings expectations for the present financial year 2008/09 as published on 26 February 2009. Revenue from continuing operations is expected to amount to DKK 200 - 230 million, and an operating profit/loss (EBIT) from continuing operations is expected in the range of a negative DKK 30 million. • Tage Rasmussen resigns as the Company's Chief Executive Officer. Today, the Supervisory Board of RTX Telecom has made an agreement with the CEO, Tage Rasmussen, that he will resign at the end of May. The Supervisory Board has assessed that the time has come when new energy is needed to bring RTX Telecom to realise the Company's potential. The Company will therefore initiate a seeking process to find a new CEO. In the period until the new CEO takes up the position, the position as CEO will be taken over by Jesper Mailind, the present deputy chairman of the Company's Supervisory Board. Jesper Mailind has wide knowledge of managing enterprises with technological background and innovation, and he also has a strong background in turnaround management as well as management of enterprises with a global market. For 10 years Jesper Mailind was the CEO of the hearing aid enterprise GN Resound until 2008 and has previously occupied management positions in the pharmaceutical enterprise Nycomed as well as a background from Mckinsey & Co. Jesper Mailind is today deputy chairman of the Supervisory Board of Kompan A/S, one of the world's leading producers of playground equipment. Yours sincerely Mogens Elsberg Chairman of the Board Tage Rasmussen CEO Questions and further information: Chairman of the Supervisory Board Mogens Elsberg, tel. +45 60 70 00 03 CEO Tage Rasmussen, tel. +45 96 32 23 00
Interim report for the first six months of 2008/09 (covering the period 1 October 2008 to 31 March 2009)
| Source: RTX A/S