Italtel Announces New Business Plan

Italtel, a provider of next-generation network solutions, has announced that its Board of Directors, under the chairmanship of Roberto Quarta, has approved a new business plan for 2009 – 2011, along with a draft of financial statements for 2008.

 

The Italtel (News - Alert) Group designs, develops and implements next generation multiservice integrated network systems, using state-of-the-art products and a system integration capacity. These solutions are intended for telecommunications operators (fixed and mobile), Internet Service Providers, large enterprises and the public sector.

 

This announcement of a new business plan is targeted at increasing turnover over the next three years through the company’s growth and repositioning on ICT markets. In addition to protecting the company’s economic and financial standing, Italtel will also be reportedly promoting itself as a Global Solution Integrator of choice for operators, public authorities and business customers in the creation of next - generation network solutions in Italy as well as other countries in Europe, the Mediterranean and Latin America.

 

This will allow the company to expand its role as s system integrator and vendor of proprietary products as well as offer innovative services to support their customer’s gradual migration to broadband networks.

 

“The new Italtel plan identifies a strategy that will enable us to shore up and strengthen a company representing the best in Italian telecommunications technology. The plan is demanding though perfectly in keeping with the extraordinary expertise and competence that Italtel has always shown in communication technologies, systems and services,” said Umberto de Julio, chief executive officer of Italtel.

 

The company has also released its consolidated financial statements as of December 31, 2008, prepared in compliance with IFRS which showed a marked improvement in the Group’s net financial indebtedness, which fell to $234.9 million.

 

“Despite strongly negative market conditions in 2008 and the global slowdown that hit the telecommunications sector, the company has managed to stem shrinking turnover while defending its market share and margins and reducing its borrowings,” said de Julio.

 

De Julio also said that this was possible only due to drastic cost cutting policy, the effective protection of margins, and further improvements to products in terms of their competitiveness and time-to-market.