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Print this ArticleACOTEL; Board Schedules Nòverca to become a FULL MVNO with current Revenues of €2.75 million
17 Mar 2011 by admin in EU MVNO, Feed, Financial Results, Italy, Nòverca / No Comments
Source; AcotelBoard approves separate and consolidated financial statements for 2010.
Consolidated results:
- Revenue approximately €154 million (up 11%)
- EBITDA approximately €5.15 million (up 9%)
- EBIT approximately €1.37 million (down 37%)
- Profit before tax €1.45 million (down 47%)
- Net loss €2.24 million (down 271%)
Group sees continuing improvement in revenue and EBITDA.
Commitment to Noverca confirmed as it nears conversion to Full MVNO and launch of new services.
Today’s meeting of the Board of Directors of Acotel Group SpA has approved the separate and consolidated financial statements for the year ended 31 December 2010, which will be submitted for approval to the Annual General Meeting of shareholders (AGM) to be held on 22 and 29 April 2011, in first and second call, respectively.
Download the Full; Press Release-Acotel
Highlights
In the Mobile Telecommunications business, where Noverca Italia Srl operates as a mobile virtual network operator (MVNO) in the Italian market, total revenues amount to €2.75 million with the Group’s proportionate share of the company’s revenues (59.4%) amounting to €1.63 million (up 512% on the €0.3 million of 2009).
During 2010 Noverca Italia launched new innovative services based on the USSD (Unstructured Supplementary Service Data) protocol. The key features of this protocol are that it permits the company to provide interactivity without the need for an internet connection and that it works on any mobile phone, even older models, both in Italy and overseas. The new services include one that allows customers to top up directly from their mobile phone, using a credit card, and another enabling them to pay their bills without having to go to the post office.
In addition to its expected conversion to a Full MVNO, due to take place in the middle of the year, Noverca Italia Srl will extend its commercial and technological integration with the Intesa Sanpaolo banking group, strengthen its distribution capacity and develop a new commercial offering based primarily on value added services.
The Acotel Group S.p.A(BIT ACO ) is a global telecommunications company, headquartered in Rome, Italy. It was incorporated on April 6, 2000 and is the leader of a group of companies operating in the ICT sector. The Acotel Group operates in four areas of business – mobile telecommunications, value added services for mobile communications, mobile messaging and media solutions and mobile advertising managed services and security systems for large companies.
Noverca Mobile
Noverca is owned by Acotel SpA. See Noverca Company Profile.
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