Telio Holding ASA: Good first half year for Telio
OSLO, Norway--(BUSINESS WIRE)--Regulatory News:
The Telio Group continued its good performance in the second quarter. Revenues for Telio Group in the second quarter ended at NOK 318.9 million and EBITDA was NOK 76.7 million.
- The first quarter represented a good start of the year and we follow up in the second quarter with the same EBITDA as in the first quarter. The Telio Group is well positioned to achieve its financial targets for 2014, says Eirik Lunde, CEO of Telio Holding ASA.
EBITDA for Telio Group was NOK 76.7 million and EBIT was NOK 46.4 million (EBIT adjusted for amortization costs of NOK 9.6 million related to the acquisition of NextGenTel AS). Profit after tax was NOK 24.4 million.
The major restructuring of NextGenTel was finalized during Q4 2013. Minor adjustments and optimization of the organization will continue in 2014.
In July, NextGenTel announced an agreement with Bofiber AS to acquire the company's 2,000 fiber customers and to cooperate in building out fiber in the Bergen region. This implies that residents in the Bergen region can be part of the roll-out of fiber and have Internet, TV, mobile and broadband telephony services provided by the same vendor, NextGenTel. Furthermore, many of NextGenTel's current customers can be offered fiber and still keep the Internet and other services from the company. Bofiber will provide the fiber infrastructure while NextGenTel will be the customer interface responsible for sales, delivery, customer services and operations.
In accordance with the decision by the annual general meeting, a dividend of NOK 2 per share was paid on 20 May 2014.
In the second quarter 2014, the Telio Group achieved revenues of NOK 318.9 million compared to NOK 332.8 million in the year-ago quarter. EBITDA was NOK 76.7 million (24.1% EBITDA margin) compared to NOK 76.6 million (23.0 % EBITDA margin) in the same quarter last year. Operating profit ended at NOK 46.4 million compared to NOK 43.0 million in the second quarter of 2013 (EBITDA and operating profit are adjusted for non-recurring items and EBIT is adjusted for amortization cost related to the acquisition of NextGenTel). (NextGenTel is consolidated in the Telio Group from 1 February 2013.)
See financial report and market presentation for Q2 2014 at:
For further information, please contact:
Mr. Eirik Lunde, CEO
Telephone: +47 23 62 66 88
Mobile: +47 48 09 69 64
Download high definition pictures of CEO Eirik Lunde at http://telioholding.no/News-and-media/Logos-and-pictures
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