EBITDA of Reditus increases by 57.7% during the 1st half of 2014
Note: In the fiscal year of 2013, Reditus proceeded to the reclassification of the assets available for sale on the grounds that the conditions in IFRS 5 had not been met - Non-Current Assets Held for Sale and Discontinued Operational Units - in order to maintain this classification.
1. Summary of the Activity
In the 1st half of 2014 (1S14), Reditus has obtained a strong growth of its international activity, registering an increase of 31.5% compared with the same period of the previous year, and kept practically unchanged the performance of operations in the domestic market reflecting the generally adverse economic environment that continued to affect Portugal.
The income of the first six months of the year show assertiveness of Reditus Group in the development of its strategy, notably the high priority on international activity representing 41% of the total turnover in 1S14, compared with 34% inthe same period of the previous year.
Operating Revenues amounted to 60.8 million euros, an increase of 8.1% versus the same period of the previous year. In the Service Delivery component, the increase was 10.6%, representing 84.0% of Revenues, value to be compared with 82.1% in 1S13.
The continued focus on operational efficiency and investment in higher value-added services enabled an increase in profitability, with EBITDA of the Group recording an increase of 11.1% over the same period of the previous year, representing an EBITDA margin of 9.2% (vs. 8.9% in 1S13).