NextGenTel Holding boosts Q4 revenue on Kvantel purchase but EBITDA, profit decline

11 Feb 2016

Norway’s NextGenTel Holding has published its financial results for the final three months of 2015, posting a 10.5% year-on-year increase in turnover, bolstered by the acquisition of Kvantel AS and Kvantel Voice AS, which it completed in October that year.

In the quarter ended 31 December 2015 NextGenTel Holding recorded revenues of NOK347.1 million (USD40.7 million), up from NOK314.0 million in the corresponding period a year earlier. EBITDA was NOK57.9 million, down significantly from the NOK78.3 million reported twelve months previously, while operating profit adjusted for non-recurring items fell to NOK15.1 million from NOK36.9 million. Meanwhile, profit after tax totalled NOK10.1 million in 3Q15, compared to NOK32.8 million a year earlier. NextGenTel Holding also confirmed that its fourth-quarter results included NOK1.2 million in costs associated with the Kvantel acquisition, while noting that the financial performance of its new subsidiary had a negative impact of NOK5.2 million on group EBITDA and NOK8.3 million on EBIT for 4Q 2015.

Operationally, at the end December 2015 NextGenTel’s total customer base in Norway was 304,000, up from 302,400 at the end of the previous quarter, while the number of customers attributed to the group‘s international markets declined by 5,600, mainly driven by the ‘planned outflow’ of white label customers in the Netherlands.