COLT Telecom Group S.A. Interim Management Statement for the quarter ended 30 September 2009
COLT Telecom Group S.A. (London Stock Exchange: COLT) issued today the Interim Management Statement for the 3 months ended 30 September 2009.
Rakesh Bhasin, Chief Executive Officer, said:
"COLT has continued to move forward, notwithstanding the current economic environment. Data Revenue saw continued growth, albeit at a slightly slower rate during the quarter, and we were very encouraged to capture the Celesio contract at the quarter end. As expected, we continue to see strong growth in Managed Services whilst managing the decline in the Voice products. Over time this will produce an improved balance to our offerings to customers and it provides me with the confidence that we will report another year of progress in 2009.”
Revenue of €400.1 million (Q308: €420.7 million) represented a decline of 4.9%. Data revenue and Managed Services revenue continued to grow, but Data revenue growth was at a slower pace than in 3rd quarter 2008, reflecting the impact of the current economic conditions. The overall fall in total revenue was a consequence of the continued decline in Voice revenue.
EBITDA of €79.5 million (Q308 : €76.7 million) represented an increase of 3.7% reflecting an improved revenue mix of Data and Managed Services, consistent margin levels compared to 2008 and tight control over fixed costs.
Net cash and deposits at 30 September 2009 amounted to €278.9 million (30 September 2008: net debt €10.2 million), reflecting the continued strength of the Group’s financial position.
This Press Release is also available via the COLT website at www.colt.net.
Forward Looking Statements
This report contains "forward looking statements" including statements concerning plans, future events or performance and underlying assumptions and other statements which are other than statements of historical fact. COLT Telecom Group S.A. wishes to caution readers that any such forward looking statements are not guarantees of future performance and certain important factors could in the future affect the Group’s actual results and could cause the Group’s actual results for future periods to differ materially from those expressed in any forward looking statement made by or on behalf of the Group. These include, among others, the following: (i) any adverse change in regulations and technology within the telecommunications industry, (ii) the Group’s ability to manage its growth, (iii) the nature of the competition that the Group will encounter and wider economic conditions including economic downturns, (iv) unforeseen operational or technical problems and (v) the Group’s ability to raise capital. The Group undertakes no obligation to release publicly the results of any revision to these forward looking statements that may be made to reflect errors or circumstances that occur after the date hereof.
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