BITÉ REPORTS SECOND QUARTER RESULTS
Strong growth in Free cash flow in Quarter 2 2010
Quarter 2 EBITDA of € 11.0 million, increased by 39.2% from Quarter 2 2009
EBITDA minus CAPEX improved 173% to reach € 9.9 million
.
Quarter 2 results
Service Revenue1 for Quarter 2 reached € 38.9 million compared to € 43.2 million for the second quarter of 2009. Consolidated Earnings before interest, income taxes and depreciation and amortization (EBITDA)2 increased to € 11.0 million compared to € 7.9 million for the second quarter of 2009. EBITDA margin of Service Revenue grew to 28% for Quarter 2 of 2010 compared to 18% for Quarter 2 of 2009. Free cash flow3 is positive € 3.4 million for Quarter 2 of 2010 compared to negative € 2.5 million for the second quarter
of 2009.
Quarter 2 results for Bité Lithuania and Bité Latvia
Service Revenue for Bité Lithuania for Quarter 2 decreased to € 31.1 million compared to €
37.3 million for the second quarter of 2009. EBITDA increased to € 12.1 million compared to € 11.6 million for the second quarter of 2009. Service Revenue in Bité Latvia for Quarter 2 increased to € 8.1 million compared to € 6.2 million for the second quarter of 2009. Bité Latvia Subscriber base grew by 74% compared Quarter 2 of 2010 with Quarter 2 of 2009 to reach critical mass of subscribers as EBITDA improved to negative € 0.5 million compared to negative € 2.9 million for the second quarter of 2009.
Link to Bite Group Official press release
No comments:
Post a Comment