Tuesday, April 7, 2009

Italtel Launches New Business Plan Focused on Integration for Global Markets

Italtel reported 2008 revenues of EUR 467.8 million, down on the EUR 543.4 million recorded in 2007. EBITDA (adjusted to exclude non-recurring items) totalled EUR 76.3 million, equal to 16.3% of revenues (down from 20.3% of revenues in 2007). A marked improvement was seen in the Group's net financial indebtedness, which fell to EUR 234.9 million (from EUR 279.1 million in 2007).

Revenues from sales in foreign markets totalled EUR 124.6 million, accounting for 27% of the total figure (up from 23% in 2007). In 2008, Italtel invested EUR 104.9 million in Innovation & Development, equal to 22.4% of turnover.

Italtel also announced a new business strategy expanding beyond its traditional role as system integrator and vendor of proprietary products. Italtel will offer a range of innovative services to support the customer's business, focused especially on the gradual migration of systems onto broadband networks. Italtel is targeting an overall 25% increase in turnover over the three years through the company's growth and repositioning on ICT markets. In fact alongside the primary objective of protecting the company's economic and financial standing, Italtel will be promoting itself as a Global Solution Integrator of choice for operators, public authorities and business customers in the creation of next generation network solutions in Italy, and leading countries in Europe, the Mediterranean and Latin America.

"The new Italtel plan," declared Umberto de Julio, chief executive of Italtel, "identifies a strategy built on sacrifices and recoveries in efficiency, but that will enable us to shore up and strengthen a company representing the best in Italian telecommunications technology. The plan," added Mr de Julio, "is demanding though perfectly in keeping with the extraordinary expertise and competence that Italtel has always shown in communication technologies, systems and services."http://www.italtel.com/