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VIRTUALISATION AAPT revenues plummet
VIRTUALISATION AAPT revenues plummet | AAPT revenues plummet |
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| by Stuart Corner | |
| Monday, 16 February 2009 | |
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Telecom NZ said these declines were due to the impact of lower consumer service volumes which impacted resale revenue, which declined by $A25 million. The parent company also took a $NZ68m hit by writing down the goodwill relating to Powertel, acquired by AAPT in May 2007 for $NZ347m. It said that its carrying value was "no longer supported by forecast earnings." Other operating revenue for H1 FY09 also includes a dividend of $A1 million from iiNet and a one off gain of $A7 million in Q1 FY08 for the sale of AAPT's mobile customer base. AAPT has an exclusive wholesale arrangement to access iiNet's ADSL2+ network, which means it can offer DSL coverage in approximately 330 exchanges across all major Australian cities and large metropolitan areas. AAPT's EBITDA for the half year was $A31m, down 16 percent on H1 08. For the second quarter EBITDA was up 39 percent on the prior corresponding quarter to $A16m "reflecting the success of cost reduction initiatives." "The re-pricing of consumer offers is largely complete and we have recommenced legacy system customer migration," said Paul Broad, CEO, AAPT. "To further drive consumer customer acquisitions, we are commencing a targeted door-to-door campaign this month. The rest of the year is expected to see the benefits from our off-shoring initiatives, completion of the re-pricing activities and a focus on on-net and data sales."
This article first appeared in ExchangeDaily, iTWire's daily newsletter for telecommunications professionals. Register here for your free trial.
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