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Italtel Reports 9 Month Results

MILAN Italy -- The Board of Directors of Italtel Group S.p.A., chaired by Roberto Quarta, met today and approved the financial results for the third quarter of the 2006 financial year (as at 30 September 2006) prepared according to IFRS accounting standards.

The key financial figures for the first nine months of 2006, compared with the data for the same period in 2005, are provided below.
  • Revenue and order backlog: Total revenue for the first nine months of 2006 was €371.6 million, representing an increase of 5.6% compared to €352.0 million in the same period of 2005. The order backlog increased by 36.2% up to €95.6 million compared to €70.2 million in the first nine months of 2005.
  • Domestic market – Revenue from Italian clients totalled €300.6 million, an increase of 5.1% compared to €70.2 million in the first nine months of 2005. In particular, the growth was mainly due to Large Enterprises and Public Sector (+56.8%) and Other telecommunication Service Providers (+5.5%). Overall order backlog for the domestic market was €60.7 million, an increase of 12.6% compared to 2005.
  • International market – Revenue generated from foreign telecommunication service providers amounted to €71 million compared to €66.1 million in the first nine months of 2005, with a 7.4% increase. Total order backlog was € 34.9 million, up 114.1% compared to the same period of 2005. These results demonstrate the strong performance of the company in the international markets in the first nine months of 2006. We acquired new important clients in the EMEA region, such as “du” in the United Arab Emirates and Arcor in Germany, while we continue to develop the business with the existing customer base. Among the Emerging Markets, Latin America registered a revenue increase of 26.4% compared to the same period of 2005.
  • EBITDA: €68.6 million, amounting to 18.5% of revenue, slightly down (-2.2%) compared to the same period in 2005, in large part due to increasing investments to take advantage of the international market opportunities.
  • Net income: € 1.8 million compared to € 5.2 million of the same period of 2005, in large part due to the financial effects of the exchange rates.


Mauro Righetti, Chief Executive Officer of Italtel Group, stated: “The positive results achieved in the first nine months of the year demonstrate Italtel’s commitment to expand in international markets and to develop new market segments in Italy. In the last few months the company confirmed its leadership in softswitch technology and in Next Generation Networks in EMEA and launched, together with its partner Cisco Systems, a new solution aimed at offering enterprises unified communication managed services, as well as signing new contracts with major international operators for the supply of Next Generation Networks.”

Italtel SpA

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