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GTS-Datanet revenue rises 3% in 2008

Telecommunications company GTS-Datanet's revenue rose 3% to HUF 15 billion in 2008, in line with expectations, managing director Pál Pauer said.

EBITDA came to HUF 2.2 billion, HUF 100 million less than in 2007.

This year, GTS-Datanet targets 6% revenue growth, Pauer said. EBITDA could rise even more than 20%, thanks to restructuring and cost cuts at the company over the past months, he added.

GTS-Datanet is in talks on selling its retail business, allowing it to concentrate on wholesale and corporate clients. The company's 41,000 retail clients generated just 11% of revenue in 2008. GTS-Datanet has 12,000 corporate clients, and about half of revenue came from wholesalers. Sales to wholesalers rose 20% in 2008.

GTS-Datanet plans HUF 1.5 billion – HUF 1.8 billion in capital expenditures in 2009, about the same as in 2008, Pauer said.

GTS-Datanet's parent company GTS Central Europe was acquired by a consortium of private equity managers Columbia Capital, M/C Venture Partners and Innova Capital in May 2008. The new owners aim to turn the GTS group into a leading alternative telco in Hungary, the Czech Republic, Slovakia, Poland and Romania. (MTI – Econews)