In Q3 2010 Nordicom achieved a positive net profit of DKK 7 m after tax.
For the first time since the beginning of the financial crisis Nordicom
achieved a positive net profit after interest expenses from primary operations.
Net profit from primary operations before valuation adjustments increased to
DKK 39.9 m in Q3 (2009: DKK 36.7 m) due to lower capacity costs for the period.
Interest expenses for Q3 amounted to DKK 31.7 m (2009: DKK 51.1 m) and are now
covered by profits from primary operations.
Managing Director Niels Troen says ”The earnings trend is turning around as a
result of the implementation of our transition process. However, the low level
of interest rates have helped us and we still need to work through a number of
development projects which have had a negative impact on net profits.
Furthermore we are working on decreasing the company's capacity costs further
so that a longer-term improvement in earnings is achieved”.
Noridcom's liquid holdings were DKK 109.4 m as at 30-09-2010 (30-09-2009: DKK
25.8 m). The company's capital structure has also been improved as the
short-term interest-bearing debt has been reduced from DKK 1,848 m as at
30-09-2009 to DKK 54 m as at 30-09-2010.
Best regards,
Nordicom A/S
Board of directors
For further information/ comments please contact Managing Director of Nordicom
Niels Troen, tel 3333 9303, mobile 51512342, www.nordicom.dk.
