Management Review
The result for the first three quarters of 2016 continues at a satisfactory level with net revenue of DKK 429.6 million (DKK 381.7 million in the same period of 2015) and an EBITDA of DKK 158.9 million (DKK 135.2 million). As depreciations and financial costs were higher in the first three quarters of 2016 compared to the same period last year, EBT was DKK 27.4 million (DKK 19.0 million). Cash flow from operating activities was DKK 82.5 million (DKK 39.6 million). For the full year of 2016, GlobalConnect expects to see a rise in Net Revenue, EBITDA and EBT compared to last year.
GlobalConnect experiences an increasing demand for cloud and IT-outsourcing services, and is securing and developing the current market position by addressing these demands. The GlobalConnect Group owns and operates all infrastructure layers from fiber optic network, datacenter facilities to server farms and cloud offerings. This positions the Group well to provide an unique offering, which have contributed positively to the revenue increase. In addition to the increased revenue, improved processes have contributed to the EBITDA increase and to a better net working capital position, which have improved cash flow from operating activities.
GlobalConnect considers Germany as a market with attractive growth potential. The plans to expand and further improve the footprint of the GlobalConnect Netz fiber optic network are in motion, along with dialogues with customers for the network.
Results for full year 2016 will be published on March 1st 2017.
Attachments:http://www.globenewswire.com/NewsRoom/AttachmentNg/4296b859-abe3-4774-ab5c-5ccbcf01bb34
