Board of Directors approves 2016 consolidates and statutory annual accounts
15 March 2017 - 17:06Price sensitive | Press releases
First operating profit in Retelit’s history
Results ahead of Guidance and significantly up on previous year
Strong generation of industrial net cash
Extension of Industrial Plan to 2021: earnings targets raised, also thanks to expected synergies between European backhaul and AAE-1 cable
- REVENUES of Euro 49.6 million, up 17.8% on Euro 42.1 million in 2015
- EBITDA continues to grow at Euro 14.6 million - EBITDA margin 29.4% - up 32.0% on Euro 11.0 million in 2015
- EBIT significantly up - from Euro 0.8 million loss in 2015 to profit of Euro 2.2 million
- Net Profit of Euro 2.9 million compared to Euro 0.2 million in 2015, recalculated on a like-for-like basis following the adoption of Hedge Accounting for derivative instruments. The 2015 Net Profit was Euro 3.4 million with derivatives measured at fair value.
- Strong results confirmed also for the quarter: revenues +8.2% YoY to over Euro 13.0 million and EBIT of Euro 0.7million
- Net Cash Position of Euro 8.1 million compared to Euro 11.5 million at December 31, 2015
Industrial Plan extended to 2021 with earnings, capital and financial targets raised:
- Forecast revenues of Euro 89-93 million
- EBITDA of Euro 44-46 million
- Net Cash Position of Euro 96-101 million
- Guidance 2017: revenues of between Euro 60 and Euro 63 million forecast, with EBITDA of between Euro 20 and Euro 23 million, EBIT of between 6 and Euro 9 million, investments in a range of Euro 25 and 28 million and a Net Cash Position of between Euro 20 and Euro 23 million.
