9 month results confirm positive trend
Munich, October 27, 2005 – telegate’s 9 month results confirm the positive trend for the fiscal year 2005. In the first nine months net income further increased to €22.8 million compared to €22.4 million (€14,6 million in the same period last year if restated for one-time special items). telegate Group's revenues totaled €105.7 million in the reporting period, a slightly higher revenue level compared to €105.2 million in the prior year.
This positive development is also reflected in the quarterly results. telegate's revenues further increased in the third quarter of 2005 compared to the very strong third quarter results of the previous year. Revenues grew to €36.0 million compared to €35.4 million in the third quarter of 2004. Growth dynamics are coming mainly from outside Germany. While revenue levels in Germany are stable compared to the previous year, revenues from the International segment rose about 10 percent in the third quarter of 2005. telegate Group's impending international expansion will further vitalize this segment in the coming months.
In the first nine months of 2005, EBITDA increased 11% to €31.3 million compared to €28.2 million in the previous year. The higher gross margin of 62.2% compared to 60.5% of the 9 months of 2004 and the slightly lower operating expenses contributed to this increase. Even with initial costs for the development of its international business, telegate expects an EBITDA of at least €35 million for fiscal year 2005.
Liquid assets of telegate grew further during the reporting period, with cash and cash equivalents amounting to €54.2 million as of September 30, 2005, compared to €30.5 million as of September 30, 2004 and €48.8 million as of June 30, 2005. These strong capital resources provide a solid foundation for implementing telegate Group's growth plans.
Press contact:
telegate AG
Claudia Strixner
Head of Public Relation
Fraunhoferstr. 12a
D-82152 Martinsried, München
Tel.: (089) 89 54-1180
Fax: (089) 89 54-1189
E-Mail: presse@telegate.com
www.telegate.com
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