Colt Group S.A. announces results for the twelve months ended 31 December 2010
- Solid EBITDA performace on improved revenue mix
- Significant growth in portfolio of cloud based services
- Strong new partnerships with technology leaders
- Launched ground-breaking state-of-the-art modular data centre
- Restructuring on course to deliver €20m of net annualised savings
- Key Financial Information:
- 1 EBITDA reflects profit for the year before net finance costs, tax, depreciation, amortisation, foreign exchange and exceptional items
2 In 2010 there was an exceptional €30.1m charge and in 2009 the exceptional item was a €9.7 million credit as described in the financial review below.
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:
“I am pleased to report that over the second half of 2010 we started to see improved Data and Managed Services revenue growth having entered the year with a degree of caution given the uncertainty in the broader European economy. Despite the weaker start to the year we delivered a solid EBITDA performance and importantly, we have continued to make strong progress in our drive to become Europe’s leading information delivery platform which is essentially about being an integrated computing and network services provider.”
Click here for the complete Press Release.
Tel: +44 (0) 20 7863 5314