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Solid third quarter from Telio

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Telio experienced continued revenue growth and good profitability in the third quarter and the restructuring of NextGenTel continues according to plan. Revenues for Telio Group in the third quarter ended at NOK 325.8 and EBITDA was NOK 70.4 million. Only eight months after the acquisition of NextGenTel, net interest bearing debt is reduced to NOK 277 million.

-   Revenue growth for Telio in third quarter was 9% and we are quite satisfied with this combined with continued good profitability. In addition, we are very satisfied to see that the restructuring of NextGenTel continues according to plan. NextGenTel has already improved profitability and reduced capital expenditures significantly and we are ahead of our plan, says Eirik Lunde, CEO of Telio Holding ASA.

EBITDA for Telio Group was NOK 70.4 million and EBIT was NOK 37.0 million (EBIT adjusted for amortization costs of NOK 11.6 million related to the acquisition of NextGenTel AS).

NextGenTel

NextGenTel has continued the positive development during third quarter and the financial performance is ahead of plan. The company has 76 less FTEs at the end of the third quarter than at the transaction date. A cost control program has been established and significant savings have been achieved both in operating expenses and capital expenditures compared to the same period last year.

Strong cash flow

The Telio Group has generated a free cash flow representing NOK 5 per share as of 30 September. Net interest bearing debt is reduced to NOK 277 million.

Financial results

In the third quarter 2013, the Telio Group achieved revenues of NOK 325.8 million compared to NOK 100.6 million in the year-ago quarter. EBITDA was NOK 70.4 million (21.6% EBITDA margin) compared to NOK 18.4 million (18.3 % EBITDA margin) in the same quarter last year. Operating profit ended at NOK 37.0 million compared to NOK 13.5 million in the third quarter of 2012 (EBITDA and operating profit are adjusted for non-recurring items and EBIT is adjusted for amortization cost related to the acquisition of NextGenTel).

See financial report and market presentation for Q3 2013 at:

http://telioholding.no/Investor-relations/Reports-and-presentations

For further information, please contact:

Mr. Eirik Lunde, CEO                                                      

Telephone: +47 23 62 66 88

Mobile: +47 48 09 69 64

Download high definition pictures of CEO Eirik Lunde at http://telioholding.no/News-and-media/Logos-and-pictures

E-mail: eirik.lunde@telio.no

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