OSLO, Norway--(BUSINESS WIRE)--It is 10 years since Telio was founded 12 August 2003. The company experienced continued strong revenue growth and increased profitability in the second quarter and the restructuring of NextGenTel develops according to plan. Revenues for Telio Group in the second quarter ended at NOK 332.8 and EBITDA was NOK 76.6 million.
- Revenue growth for Telio in second quarter was 14% and we are quite satisfied with this combined with the strongest quarterly result in the history of the company. In addition, we are very satisfied to see the first results from the restructuring of NextGenTel. NextGenTel has already improved profitability and reduced capital expenditures significantly and we are ahead of our plan, says Eirik Lunde, CEO of Telio Holding ASA.
EBITDA for Telio Group was NOK 76.6 million and EBIT was NOK 43.0 million (EBIT adjusted for amortization costs of NOK 7.5 million related to the acquisition of NextGenTel AS).
The second quarter was NextGenTel’s first full quarter as part of the Telio Group (NextGenTel AS and its subsidiaries are consolidated in the Telio Group financial statements from 1 February 2013).
NextGenTel has developed positively during second quarter and the financial performance is ahead of plan. The first step of rightsizing has been completed and the company has 60 less FTEs at the end of the first half year than at the transaction date. A cost control program has been established and significant savings have been achieved both in operating expenses and capital expenditures compared to the same period last year.
Continued growth in international markets
Telio continues to grow also in the markets outside Norway. The total number of customers outside Norway was 116,500 at the end of second quarter 2013.
In the second quarter 2013, the Telio Group achieved revenues of NOK 332.8 million compared to NOK 99.3 million in the year-ago quarter. EBITDA was NOK 76.6 million (23.0% EBITDA margin) compared to NOK 25.7 million (25.9 % EBITDA margin) in the same quarter last year. Operating profit ended at NOK 43.0 million compared to NOK 20.6 million in the second quarter of 2012 (EBITDA and operating profit are adjusted for non-recurring items and EBIT is adjusted for amortization cost related to the acquisition of NextGenTel).
(See separate financial report and market presentation for Q2 2013 at http://www.telioholding.no/investor_relations/reports_presentations)
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