Amitelo AG

AMITELO AG presents its Half-Yearly Figures

Stable sales, new CFO appointed, Ernst & Young selected as auditors Zurich, 28th September 2007. AMITELO AG, supplier of telecommunications services, released today its half-yearly report to 30th June 2007.

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Zürich (euro adhoc) - In the first half of 2007, revenue increased by 22% growth to EUR 27.74 million (vs. EUR 22.78 million first half 2006). Due to the difficult circumstances in the reporting period, EBIT earnings before interest and tax amounted to EUR 2.1 million down from EUR 2.78 million recorded in the same period last year.

With the appointment of Ms. Christine Bogner as the new Chief Financial Officer of AMITELO AG, this important vacancy in the Group will be filled by 15th October 2007. Ms. Bogner brings wealth of experience and competence to AMITELO. She joins from the former BenQ Mobile Group where she has had responsibility in a senior role within the Finance department. Prior to this assignment Ms. Bogner spent several years in the finance units of SIEMENS Mobile Com Devices in Munich.

One of the world's leading international auditing companies, Ernst & Young AG based in Zurich, has agreed to become the statutory auditor of AMITELO AG and its main subsidiaries. At an extraordinary meeting of shareholders to be held this October, it will be proposed that Ernst & Young already take over the statutory auditing of the 2007 annual accounts of AMITELO AG as well as of the consolidated accounts for the Group.

In addition to these important steps, the ongoing analysis of the Group's restructuring is progressing well. More detailed information in this regard can be found in the half-yearly report.

For the complete 2007 financial year, AMITELO AG expects to achieve revenue in the range of EUR 63 million, resulting in an EBIT of approximately EUR 4.4 million.

"We are convinced that we are on the right path in terms of restructuring AMITELO AG. Now that we have stabilised both sales and earnings in what was for us a very difficult first six months of 2007, coupled with the outlook for the year as a whole, it makes us feel very confident about the further development of the company," commented Jan Malkus, CEO of AMITELO AG.

AMITELO AG: AMITELO AG ( based in Zurich is a technology company operating on an international level and specialising in fast-growing telecommunications fields such as VoIP, internet via satellite, broadband services,  billing and IP call centre solutions. Mobile wireless services (in Iceland) have also now been added to this range. The Group's corporate activities focus on internet telephony (VoIP) and innovative telecommunications technologies for use in the most diverse markets and regions of Europe, Africa and South America. The aim here is to tap into new markets in the future as well. In this regard Amitelo AG pursues an aggressive growth strategy in which both organic and inorganic growth are closely linked together, making a clear contribution to achieving the turnover and earnings targets the Group has set for itself.

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ots Originaltext: Amitelo AG
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Branche: Telecommunications Equipment
ISIN:      CH0003307706
WKN:        A0F5YA
Börsen:  Börse Frankfurt / free trade/entry standard

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