Telecomunicazioni
GOWEX : GOWEX 2013 net profit: EUR28.9 million, an increase of 70%
GOWEX 2013 net profit: EUR 28.9 million, an increase of 70%
Solid year results on growth and profitability
Two big partnerships signed between We2 and two leader operators
Pipeline business for 2014: almost 2 times higher than in 2013
Doubling goals for 2018: 600 Wireless Smart Cities
Total Revenue: EUR182,6 million; + 60 %
EBITDA: EUR53,0 million; + 72%
EBIT: EUR38,9 million; +78%
Net Benefit: EUR28,9 million; + 70 %
Net liquid assets EUR30,5 million
Madrid, 29 April 2014 -. GOWEX (GOW-MAB, ALGOW-NYSE Alternext, LGWXY-OTC Market) , a leading company in the creation of Wireless Smart Cities announces today the publication of the consolidated results for 2013, with an generalized increase in each and every financial indicator and exceeding the income expectations, paying off the investments made in new technologies, business areas and services.
GOWEX CEO, Jenaro García, highlighted the positive result of these figures and pointed out that during 2013 GOWEX strengthened its model and created a global need around its product. The growth of our recurring revenue, the projects we gain along the way and our solid leading position enables us to sustain more and more our goal of achieving 600 Wireless Smart Cities before 2018.
Revenue's expectations have been over passed, 69% is recurrent
After EUR182, 6 million of sales, GOWEX reaches higher revenue than expected. In 2013, the Company signed two agreements with ZTE (China), AT&T (USA), PCCW (Hong-Kong), Atlanteam (France), deploying the biggest network in New York and, finally, launching a revolutionary service: We2 Social WiFi.
The international sales have progressed due to GOWEX renown, reaching a sales' total of 67% in 2013, versus 51% at the end of 2012. Almost all the Group's growth was organic, except for the petty part regarding Ideup's acquisition for the Mobile department.
The margin progress faster than the revenue
In 2013, the management indicators have progressed faster than activity under the gross margin growth (+70%), improving the equipment costs and the good management of the expenses.
In this way, the EBITDA reaches EUR53, 0 million, which corresponds to 29, 0% on the total revenue, compared to the 26, 9% in 2012. The application of results (Ebit) was established at EUR38, 8 million (21% of the total revenue), growing a 78%, even with the amortization expenses, following the network's powerful growth during the 2S 2013.
The corporation taxes, EUR10, 6 million, have doubled over the financial period. At the end, the net profit was established at EUR28, 9 million, a 15, and 8% of the total revenue.
EUR 30, 5 million of net liquid assets at the end of 2013, after important investments
Fixed assets increased from EUR 17.1 million to EUR 54.7 million during the year. Thus, GOWEX reached at the end of 2013, EUR 95.2 million in equity and cash position, and net cash of EUR 30.5 million.
For the next stockholders meeting, the Administration Board will propose the payment of a dividend equivalent to 2012's. That is a minimum of 0,013 euro per stock.
Doubling goals for 2018: 600 Wireless Smart Cities
In December 2013, We2 Social WiFi was launch, offering retailers, companies and final users a social experience to share their private network. We2 will accelerate GOWEX's network growth with two partnerships with leader operators that have been signed and several negotiations are ongoing.
Meanwhile, GOWEX Wireless network growth will be concentrated in areas of Latin America, United States and emerging markets by strengthening its presence especially through its policy of co-investment.
Strong ambitions and an advanced business pipeline define GOWEXs goals in achieving 600 Wireless Smart Cities in the world for 2018.
Copyright GlobeNewswire
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Source: %s via Globenewswire