The Board of Directors approved the half-year report at 30 June 2016
02 August 2016Price sensitive | Press releases
Sharp growth in all economic-financial indicators
Expected improvement in 2016 results with respect to Guidance
- REVENUES up 24.8% to €24.6 million compared to €19.7 million in H1 2015
- EBITDA up 49.3% to €7.1 million vs. €4.8 million in H1 2015 - EBITDA margin at 28.9% from 24.2%
- Positive EBIT of €1.0 million vs. negative €1.1 million in H1 2015
- Net profit of €1.3 million compared to negative €0.5 million in H1 2015 restated on a consistent basis, following the adoption of Hedge Accounting on derivative instruments outstanding. The half-year net result in 2015 amounted to €2.2 million with the calculation of derivatives at fair value.
- Trade orders up 27% to €19 million Total Contract Value (TCV)
- Net financial position: positive by €3.9 million, compared to a NFP positive by €11.5 million at 31 December 2015
The Board of Directors of Retelit S.p.A. met today and, chaired by Mr. Dario Pardi, reviewed and approved the Half-Year Report at 30 June 2016.
The Chairman Dario Pardi commented: “Consolidated results in H1 2016 improved significantly compared to the corresponding period of the previous year and are even better than the 2016-2020 Business Plan. The good performance confirms the management's ability to consolidate and to improve its position in the Wholesale market. The Retelit Group is successfully and consistently pursuing the operations envisaged in the Business Plan, which involve the development of the business through continuous growth in the Wholesale market of telecommunications services and its geographic expansion through the investment in the AAE-1 submarine cable, along with a strong integration of the offer of Data Center, Cloud and connectivity services as well as value added services (VAS) intended for private companies and governments (Business). For the second half, we envisage additional strategic actions aimed at developing the value-added services offer portfolio and penetration in the market of companies with headquarters located adjacent to the Group's network. The good performance of orders, up 27%, confirms the group's ability and the validity of its marketing and sales actions, leading to believe that 2016 results may be slightly better than expected.”