Orbitel loss decreased to 1.2 million levs for 2008
Orbitel SA realized 2.06 million levs consolidated loss for 2008 to a consolidated loss of EUR 2.9 million for 2007 and 2.5 million levs consolidated loss for 2006, show data company.
For 2008 revenues were about 19.99 million leva, which is a growth of 13.9% compared to 2007 and 2.4 percent growth compared to 2006
At the end of 2008 the company’s equity is 8.3 million leva in capital of 12.8 million euro due to accumulated losses of 7.64 million euro
Orbitel is part of the European telecommunications group Deutsche Telekom. Owner of 100% of the shares is the Hungarian Magyar Telecom, which is part of a group of Telecom. Orbitel owns 100% of two subsidiaries, which consolidate the results as they are and Hit.BG Orbitel UK LTD.
The Group offers integrated communication solutions for telephony, broadband Internet and virtual private networks in over 35 cities. There are sites and hosting, domain registration, corporate e-mail and professional advice.
Most of the revenue from sales to corporate customers. Last year source of revenue are the sale of wholesale aloud, and the data in the new backbone network, and the sale of equipment.
Regulatory environment that determines the business group continues to affect negatively and has not yet been synchronized with the European standards. Pricing pressure from late monopoly BTC, is also a negative factor that affects the company’s financial results, comment on Orbitel. At the end of 2008 a strategic decision by the parent company, Orbitel sell complete backbone network, which remained in the group of Magyar Telecom. Orbitel repaid after selling all their credits and continue to operate as a self company.
At the end of 2008 the company has current liabilities of EUR 6.4 million to current liabilities of 10.2 million leva at the end of 2007 netekushti and liabilities of 9.4 million levaat the end of 2006 d.
One of the competitors of the company, Spectrum Net AD, making 17 percent sales growth for 2008 to17.2 million levaand 370 thousand euro loss.
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Finance