DGAP-News: ecotel communication ag / Key word(s): Final Results
ecotel communication ag: ecotel communication ag Presents 2010 Annual
Financial Statements:
31.03.2011 / 07:55
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- Revenue of EUR 98.3 million at previous year's level
- EBITDA beats estimates at EUR 4.9 million
- Net debt down to EUR 4.6 million
- EBITDA margin now forecast to double by 2013
Fiscal year 2010 turned out well for ecotel communication ag, having been
successful in initiating a turnaround. The successful marketing of complete
connection products in the core Business Solutions segment has established
a new business base, simultaneously laying the groundwork for a sustained
increase in profitability.
Group revenue came in at EUR 98.3 million, up 7% year on year after
adjustment of the previous year's figure for the deconsolidation of PPRO
GmbH. Gross profit rose 3% as a result to EUR 22.9 million.
EBITDA came in at the previous year's level at EUR 4.9 million,
substantially ahead of the estimate. The operating result (EBIT) amounted
to EUR 1.5 million, after EUR -2.2 million in the previous year.
Consolidated net income after minority interests of EUR 0.1 million was
recorded for 2010, after EUR -2.2 million in the previous year. This
corresponds to earnings per share of EUR 0.02, compared with EUR -0.57 in
the previous year.
Net debt was further reduced as planned to only EUR 4.6 million as of
December 31, 2010 (previous year: EUR 7.4 million), a decrease of EUR 2.8
million versus the previous year. Cash and cash equivalents declined from
EUR 7.1 million at the start of the year to EUR 6.1 million. The equity
ratio increased from 37% to 41%.
By the end of 2010, Business Solutions had booked incoming orders for
approximately 10,000 complete connection contracts, roughly 6,000 of which
were revenue-generating. The transformation process of migrating
preselection customers over to complete connection products is thus
progressing full steam ahead, contributing to a long-term rise in gross
profit for the Business Solutions segment.
For 2011, the Company projects significantly greater profitability for the
Business Solutions segment, with EBITDA increasing from EUR 5.5 to EUR 6.5
million on Group revenue of an estimated EUR 90 million. Based on the
latest business results, management believes the EBITDA margin could double
by 2013 from a current 5%. The 2010 Annual Report is available on the
Company website for download at www.ecotel.de.
About ecotel communication ag:
ecotel communication ag, a telecommunications company listed in the Prime
Standard segment of the Frankfurt Stock Exchange active throughout
Germany,operates three specialized business units.
In its core unit, Business Solutions, ecotel supplies approximately 30,000
business customers with an integrated product portfolio of voice, data, and
mobile communication solutions. This business unit combines the activities
of ecotel's B2B business and the B2B business of nacamar GmbH, merged into
ecotel in 2009.
In its second business unit, Wholesale Solutions, the ecotel Group markets
upstream products to other telecommunications companies and outside
marketers. Using modern enabling and communication platforms, these
companies obtain access to the entire ecotel product portfolio, such as
unbundled local loop and broadband connections or mobile communication
solutions. At the same time, this business unit achieves high traffic
volumes, thus creating added value for the core Business Solutions
unit. In addition to ecotel's wholesale business, i-cube GmbH and mvneco
GmbH are also part of this business unit.
The New Business unit focuses on new, rapidly growing business areas and
niches of the subsidiaries and holdings, which remain operationally
independent. nacamar GmbH, which is now exclusively focused on the new
media business, is also part of this independent business unit alongside
easybell GmbH.
Headquartered in Düsseldorf, Germany, the corporate group currently has 210
employees including subsidiaries and holdings. ecotel is among the
fastest-growing technology companies in Germany and has placed among the
top 50 German companies in the Deloitte competition 'Technology Fast 50'
five years in a row.
Disclaimer:
This publication does not represent an offer to sell or a solicitation to
place an order to buy securities or subscribe to securities offerings. This
publication is not a securities prospectus. This publication and
information contained herein are not intended for direct or indirect
forwarding to or circulation in the United States of America, Canada,
Australia, or Japan.
End of Corporate News
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Language: English
Company: ecotel communication ag
Prinzenallee 11
40549 Düsseldorf
Deutschland
Phone: +49 (0)211 55 00 70
Fax: +49 (0)211 55 00 7 222
E-mail: info@ecotel.de
Internet: http://www.ecotel.de
ISIN: DE0005854343
WKN: 585434
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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117694 31.03.2011
DGAP-News: ecotel communication ag: ecotel communication ag Presents 2010 Annual Financial Statements:
| Source: EQS Group AG