Equant suffering from loss of SITA input

23 Jul 2004

France Télécom’s data network subsidiary Equant has reported revenues of USD1.433 billion for the first half of 2004, down 6.2% on the corresponding period of 2003. The company said the June 2003 expiry of a minimum revenue commitment from its subsidiary SITA impacted revenues by USD47 million. Excluding contributions from SITA, the company said its revenues would have fallen by just 1.6%. Equant’s operating income before depreciation and amortisation fell by USD100 million to USD59 million, due predominantly to the adverse effects of currency fluctuations, with net losses increasing by 12% to USD195 million. At the end of June 2004 Equant had net cash reserves of USD199 million, down from USD479 million at the start of the year.

France, Netherlands, Equant, Orange Group