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Italtel Updates on Annual Results [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Italtel's Board of Directors has approved the draft financial statements for the year ended December 31, 2013. In a release on March 13, the group noted that the Italtel consolidated financial statements, prepared in compliance with IFRS, report revenue of EUR374.2 million for the year, up 13 percent on the EUR331.4 million recorded in 2012. First margin (revenue minus cost of sales) grows from EUR 109.5 million in 2012 to EUR127.5 million, an increase of 16 percent. There is also improvement in the percentage profitability (growing from 33 percent to 34.1 percent of revenue). EBITDA normalized, comprising the operating result plus amortization and depreciation minus restructuring costs and not recurring components, triples to EUR32.5 million, equal to 8.7 percent of revenue. In 2012 it was EUR10.8 million corresponding to 3.3 percent of sales. Net Group financial debt improved significantly, decreasing to EUR181.6 million from EUR266 million in 2012. Net Shareholders Equity is positive for EUR74.4 million, even though net income is negative, mainly due to restructuring costs. Stefano Pileri, CEO of Italtel, said: "2013 was a very positive year for Italtel for several reasons: the reinforcement on the market in our relationship with customers and the quality and quantity of opportunities developed, the industrial acceleration of the offer portfolio both of proprietary products developed in our R&D labs and of engineering Professional Services. In addition, the capital and financial rebalancing and the process of structural reduction of industrial costs was carried out through positive uninterrupted discourse with Labor Unions". In 2013 Italtel continued with the strategy focused on the diversification of the Group's customer base. Revenue from Large Enterprises and the Public Sector had a significant improvement of 31 percent, compared to 2012. In international markets, revenue from sales to Service Providers grew 13 percent, driven in particular by strong growth in Latin America (up 28 percent compared to 2012). In EMEA markets, Italtel consolidated its position both in the sales of proprietary products and in system integration activities for three of the largest international telecommunications Groups. Overall, foreign revenue of Italtel Group represents 42 percent of total revenue. "We had a steady improvement of revenue and an increase of gross operating margin, in particular in Latin America. We launched several new products and services that earned a positive interest, enlarging the customer base and allowing us to participate in several international tenders. This confirms that the capacity for innovation is a key factor for Italtel, which has R&D labs dedicated to the development of products and solutions in the most innovative technologies, such as SDN, NFV and WebRTC," said Pileri. In 2013, Italtel, thanks to its NetMatch product, was positioned in the "Visionaries" quadrant of Gartner Magic Quadrant 2013 for Session Border Controllers. It was also the first vendor in Europe to achieve the interoperability certification for Microsoft Lync 2013 for its SBC. With reference to the development of engineering Professional Services, Italtel obtained important contracts for the network evolution of two of the largest telecommunication operators in the EMEA region. Italtel designs, develops, implements solutions for NGN and NGS; Professional Services dedicated to the design and maintenance of networks; IT System Integration Services; Network Integration and migration activities. More information: www.italtel.com. ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |