GTS Central Europe Announces 2008 Financial Results
Warsaw, March 2, 2009
2008 financial performance represented the best results in the 15 year history of the Group, strengthening its
position as the leading alternative telecommunication operator in Central & Eastern Europe.
- 2008 revenue grew by 10% to €436m (2007: €396m). Data revenue grew by 19% driven primarily by providing international services.
- EBITDA grew by 8% to €77m (2007: €71m).
- Total 2008 CAPEX investments were €49m.
Commenting on the results Adam Sawicki (Group CEO) noted "that despite the deteriorating macro economic environment, 2008 was an exceptional year and establishes a solid platform for the further development on the Group. Recent strengthening of our management team coupled with various efficiency programs will allow us to better focus and execute on our core competency which is being the preferred provider of data and voice solutions to corporate and carrier customers in Central Europe".
Gerald Grace (Group CFO) noted that "the Group continues to be focused on cash flow performance with operating cash flow after investments of €28m in 2008 representing 45% growth on the prior year".
