PARIS -(Dow Jones)- French telecom operator Neuf Cegetel Friday said fourth-quarter revenue grew 20%, propelled by a combination of strong organic growth and acquisitions.
The company confirmed its 2008 targets of over 20% growth in revenue at its mass market division, 5%-10% revenue growth at its enterprise division, and operating cash flow of about EUR450 million.
Neuf Cegetel also said its adjusted earnings before interest, taxes, depreciation, and amortization, or Ebitda, reached a rate of 22.5% of revenue in the second half of 2007, on track for its target of 25% by the end of 2008.
Fourth-quarter revenue for the quarter ended Dec. 31 rose to EUR911 million from EUR760.3 million a year earlier, boosted by growth in its mass market and enterprise divisions and the acquisitions of Club Internet and AOL France.
Neuf Cegetel is subject to a takeover bid from mobile operator SFR, which is co-owned by Vivendi and Vodafone Group. SFR, which already holds 39.95% of Neuf's capital, plans to buy trading group Louis Dreyfus' 28.64% stake before buying up the remaining shares.
Neuf shares closed Thursday down EUR0.04, or 0.1%, at EUR34.76, against a 1.9% drop in France's SBF-120 index. The group will report 2007 earnings on March 11.
-By Jethro Mullen, Dow Jones Newswires; +33 1 4017 1738; jethro.mullen@dowjones.com
(END) Dow Jones Newswires
Posted to the site on 8th February 2008
Posted to: www.cellular-news.com/story/29176.php