Teleunit reports ‘excellent’ year following debut on AIM

31 Mar 2005

Teleunit, which provides fixed line telephony, wireless broadband, international calling card and premium access phone products in Italy, reported a 37% rise in turnover to EUR60.8 million in 2004 buoyed by its debut on the AIM in June. The alternative operator also said that gross profit improved by 58% to EUR13.6 million, pre-tax profits rose by 49% to EUR5.6 million, and EBITDA increased to EUR8.2 million from EUR5 million a year earlier. Teleunit has identified several areas as key growth opportunities in 2005, including wholesale, 5-digit-SMS, ADSL, VoIP and wireless in the local loop (WiLL) services. To help achieve these goals, it expanded its WiLL coverage to Tuscany at the year end and completed the acquisition of 30% of Starline, a privately-held company established in 1995, to provide high quality voice content to Italian users.

Italy, Teleunit