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ecotel communication ag: ecotel continues profitable growth course

DGAP-News: ecotel communication ag / Key word(s): Half Year Results
ecotel communication ag: ecotel continues profitable growth course

14.08.2014 / 07:30

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- Consolidated turnover of EUR 50.2 million in 1st half year 2014 (plus
14.6 %)
- EBITDA of EUR 3.6 million in 1st half year 2014 (plus 8.3 %)
- Forecast for 2014 reaffirmed


Düsseldorf, 14 August 2014
ecotel was able to continue the profitable growth course in the first half
year of 2014 and to increase consolidated turnover to EUR 50.2 million.
Compared to the same period of the previous year this represents an
increase of 14.6 %, which is due essentially to turnover gains in the
»Wholesale Solutions« and »New Business« segments. Revenue in the B2B
segment, at EUR 21.0 million, was slightly above the half-year revenue
figure for 2013.

In the second quarter 2014 the group earned consolidated turnover of EUR
24.0 million (previous year: EUR 22.3 million). EBITDA in the second
quarter 2014, at EUR 1.9 million (previous year: EUR 1.6 million) was
increased in comparison with the previous quarter by EUR 0.2 million. In
the half-year comparison this is an increase of 8.2 % compared with the
previous year. The gross profit margin constituting 25.7 % of the revenue
was slightly above the result for the first quarter 2014.

Depreciations increased in comparison with the first quarter 2014 and with
the first half year 2013 by EUR 0.4 million and EUR 0.6 million,
respectively. This increase was the result of one-time investments for the
router technology and the connection of the Allianz agencies, as well as
impairments of tangible fixed assets. Consolidated profit for the first
half year 2014 remained at the previous year's level of EUR 0.8 million.
This corresponds to earnings per share of EUR 0.14.

In the second quarter 2014 ecotel bought back 90,000 treasury shares at a
purchase price of EUR 0.8 million and reduced the capital stock to EUR 3.51
million through the call-in of a total of 390,000 shares on 27 June 2014.
Despite the subsequent equity reduction ecotel was able to slightly
increase the equity to EUR 20.8 million (previous year: EUR 19.9 million)
and the equity ratio to 45.4 % (previous year: 45.3 %). The net debt
increased in comparison with 31 March 2014 by EUR 0.9 million to EUR 2.3
million (previous year: EUR 2.3 million).

After completion of the router rollout in the large-scale Allianz project
ecotel successfully began in the second quarter to convince the first
agencies to change providers through targeted marketing and follow-up
measures. Due to the large number of agencies (ca. 10,000) the planned time