GTS Novera posts 7% dip in 2009 revenue

15 Jun 2010

Czech alternative telecoms operator GTS Novera said revenues for 2009 declined 7% year-on-year to CZK5.385 billion (USD256.8 million), although EBITDA improved by 16% to CZK914 million. In a press release, GTS Novera said its full-year performance was impacted by the continuing transition of customers from voice services to data and managed solutions, which helped the unit post a higher margin than was achieved by the rest of the GTS CE Group. In addition, cash flow (EBITDA less CAPEX) of CZK595 million represented a 95% growth compared to 2008.

‘I am delighted with the results for 2009 as they represent an amazing achievement in very difficult economic conditions. Our hard work and strategy of focusing on business customers and the public sector has been duly rewarded,’ said CEO Stuart Evers, adding: ‘Our success is a result of our continuing close relationship with the business and public segments in the Czech Republic and I am convinced that we will continue to prosper in partnership with these customers.’

Czech Republic