Sunday, 25 June 2017

Colt publishes 1H 2013 financial report

Colt
Thursday 25 July 13

Colt Group S.A. issued today the results for the six months ended 30 June 2013. Highlights of first half of 2013: • Overall Group revenue declined by 1.1% in the face of significant regulatory driven Voice price declines as well as adverse foreign currency impact resulting from a weakening Sterling against the Euro…

Colt Group S.A. issued today the results for the six months ended 30 June 2013.

Highlights of first half of 2013:
• Overall Group revenue declined by 1.1% in the face of significant regulatory driven Voice price declines as well as adverse foreign currency impact resulting from a weakening Sterling against the Euro. Non Voice revenue grew by 3.1% on a constant currency basis
• Data revenue continued its transformation with growth in newer technologies and managed network services largely offset by churn in legacy products. Data revenue as a whole grew by 0.7% in H1 2013 (1.8% on a constant currency basis
• Managed Services revenue grew by 7.1% (8.3% on a constant currency basis) including Data Centre Services revenue growth of 10.7%
• Voice revenue declined by €19.0m (6.4%) principally due to regulatory driven price declines.
• EBITDA amounted to €158.0m (20.0% margin). The decline in overall EBITDA from H1 2012 of €3.8m related to increased investment in recent acquisitions and strategic investments in product development
• In the period we launched our enterprise grade cloud services across both direct and indirect channels in Europe and Asia.

Key information:

Rakesh Bhasin, Chief Executive Officer, commented:
“While the first half results reflect the impact of a stubbornly challenging economic climate and negative regulatory pressure on Voice revenue, our business continues its transformation in line with our strategic direction. Growth in key strategic areas is occurring in managed networking and IT services and data centre related revenue, however, this is overshadowed by foreign currency movements, regulatory voice pricing and churn of legacy Data products. Our products and services in our strategic areas are winning recognition in the market and our pipeline is improving. Our continued investment in strategic areas should suppress near term margin expansion but we remain optimistic that the business will grow full year revenue on a constant currency basis.”


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