Colt Group S.A. Interim Management Statement for the quarter ended 30 September 2011
20 October 2011
Colt Group S.A. (London Stock Exchange: COLT) today issued its Interim Management Statement for the three months ended 30 September 2011.
Three months to 30 September
Revenue of €395.0 million (Q310: €392.7 million) represented an increase of 0.6% over the third quarter 2010 driven by stabilising Voice revenue and growth from our Data Centre Services division.
EBITDA1 of €84.3 million (Q310: €83.8 million) was 0.6% ahead of the third quarter 2010. Excluding the impact of MarketPrizm (€3.0 million) EBITDA grew by 4.2%.
Net funds2 at 30 September 2011 amounted to €242.3 million (30 June 2011: €230.6 million). Restructuring payments amounted to €3.8 million for the quarter and €17.0 million on a year to date basis. Year to date capex spend amounted to €219.7 million which included €33.4 million in relation to the Data Centre Services division.
Rakesh Bhasin, Chief Executive Officer, said:
“We are pleased with the results for the third quarter amid challenging economic times. As I indicated in July, we are starting to see evidence of growth in our bookings trend in the third quarter and do not see any significant change in our trading conditions at this time. While the impact of these bookings is unlikely to have a significant impact until 2012, we expect to see a continuance of the third quarter trend in revenues over the balance of the year.
1 EBITDA is earnings before net finance costs, tax, depreciation, amortisation, foreign exchange and exceptional items
2 Net Funds includes deposits classified as current asset investments
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 Group S.A., ‘the Group’, 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 IT services and communications industries, (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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