22 July 2010
Colt Group S.A. (London Stock Exchange: COLT) issued today the results for the six months ended 30 June 2010.
Highlights of first half 2010:
- Continued improvement in EBITDA margins
- Balancing continued infrastructure investment with a strong balance sheet
- Data centre acquisition of freehold forming basis for launch of data centre services business
- Caution for first half giving way to improved confidence for second half 2010
Key information:
| Six months to 30 June | |||
| € millions | 2010 Unaudited |
2009 Unaudited |
Movement |
| Total revenue | 794.2 | 817.4 | (2.8%) |
| Data revenue | 396.8 | 398.4 | (0.4%) |
| Managed Services revenue | 83.0 | 73.4 | 13.1% |
| Voice revenue | 314.4 | 345.6 | (9.0%) |
| EBITDA1 | 158.2 | 158.0 | 0.1% |
| Profit before tax and exceptional items2 | 34.4 | 45.9 | (25.1%) |
| Earnings per share (€) | 0.05 | 0.07 | (28.6%) |
| Free cash flow3 | 7.8 | 32.4 | (76.0%) |
| Capital expenditure | 103.7 | 91.2 | (13.7%) |
| Net funds4 | 265.6 | 243.1 |
9.3% |
1 EBITDA reflects earnings before net finance costs, tax, depreciation, amortisation, foreign exchange and exceptional items
2 In 2010 there were no exceptional items. In 2009 the exceptional item was a €9.7 million credit as described in the financial review below. Profit before tax in 2009 was €55.6 million
3 Free cash flow is net cash generated from operating activities less net cash used to purchase non-current assets and net finance costs paid
4 Net funds reflects cash and cash equivalents plus deposits classified as current asset investments less debt
Rakesh Bhasin, Chief Executive Officer, commented:
“These results are in line with our expectations and our cautious approach adopted for the first half of 2010. Whilst Data and Managed Services did not create the growth to cover Voice decline at a revenue level we are seeing positive signs in the market which indicate an improvement in the second half and into 2011.”
Click here to view the complete Press Release.
Enquiries:
Gill Maclean
Senior Manager, Investor Relations
Email: gill.maclean@colt.net
Tel: +44 (0) 20 7863 5314
PR Archives: Latest, By Company, By Date