Amitelo AG
Amitelo AG: AMITELO AG takes over Infinity Corporation and raises sales forecast 2006
Amitelo AG / Acquisition/Development of Sales Corporate news transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Zurich, 19 December 2006. This year AMITELO will generate significantly more revenue than previously planned. This positive development is due to increased volume from existing projects as well as various acquisitions, the latest among them being Infinity Corporation UK Ltd, a specialist in software solutions for WLAN and hotspot billing. As in 2005, AMITELO will exceed its yearly sales forecasts. 2006 the telecommunications provider will generate ? 68,5 million in revenues, thus tripling results of 2005 and significantly exceeding forecasts of ? 60,5 million. Increased revenues from existing projects as well as various acquisitions have contributed to this positive development. Members of the AMITELO Management ex-press their satisfaction over these results. «Before year?s end we look back to a strenuous but also highly successful 2006 that made all our wishes come true even before Christmas», says CEO Khaled Akid. «Against all expectations we not only reached but significantly exceeded our revenue forecasts of ? 60,5 million. Our EBIT also massively surpasses results of 2005. We were able to win excellent projects and are setting ourselves demanding tasks for 2007. And we are particularly looking forward to tackling these challenges with our newly added subsidiaries.» The predominantly inorganic growth of this year provides the basis for the planned organic growth in 2007 and the years to come. Just before year?s end AMITELO has taken over another company, i.e. Infinity Corporation UK Ltd, a London-based telecommunications provider with revenues of ? 9,3 million and EBIT of ? 1,6 million. Both companies have agreed to maintain silence regarding the purchase price. The underlying valuation was however significantly below triple EBIT. Infinity Corporation UK Ltd mainly develops software solutions for the IP sector, WLAN, hotspot billing as well as wireless products involving GSM, WLAN and roaming. AMITELO sees great potential in collaborating with Infinity Corporation UK Ltd that generates the bulk of its revenues in Dubai, the commercial hub of the Middle East. Their offices are located next to Siemens, HP, Mi-crosoft and Nokia in Dubai Internet City, the free trade zone for IT and communications service providers. About AMITELO AG: AMITELO AG (www.amitelo.ag), with registered office in Zürich, is an internationally operating and innovative technology enterprise that is active in the strong growth areas of the telecommunications sector such as VoIP, Sky-DSL, ADSL, Billing, Call Centres. The focus of its entrepreneurial activity is on internet telephony (VoIP) and other telecommunication technologies for operation in various regions in Europe, Africa and South America. New global markets are expected to be tapped in the near future. AMITELO AG is pursuing an offensive strategy of growth in which organic and inorganic growth are very closely linked as a means of achieving the planned sales and revenue targets. Your contact: Capital Communication AG Mr. Andreas Duffé Mr. Kian Ramezani Poststrasse 3 CH-8053 Zurich, Switzerland Tel. +41 43 888 70 00 Fax +41 43 888 70 09 E-mail investors@capital-communication.ag DGAP 19.12.2006 ----------------------------------------------------------------------
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