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November 29, 2009

Telvent GIT Q3 revenue up 20.5% to €192.7m

Posts net income of €8.4m, compared to €7.2m for same period last year

By CBR Staff Writer

Telvent GIT has reported revenue of €192.7m for the third quarter of 2009, an increase of 20.5% compared to €160m in the same period last year.

Gross margin was 31.8% for the third quarter of 2009, compared to 25.1% in the same period last year. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the third quarter of 2009 were €25m, or 13.0% of total revenues for the period, compared to €13.8m and 8.7% in the third quarter of 2008.

Operating margin increased to 11.2% for the quarter, compared to 7.7% for the same period last year. For the quarter, the company posted a net income of €8.4m or €0.25 a share, compared to €7.2m or €0.2 a share for the same period last year. Cash and cash equivalents were €46.7m.

New order bookings or new contracts signed during the third quarter of 2009 totaled €310.4m, an increase of 108.5% compared to €148.9m in the same period last year.

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Manuel Sanchez, chairman and chief executive officer of Telvent, said: We continue to deliver the margin expansion that we had promised and bottom line profitability. In these last twelve months, we have become a better company with synergies remaining to exploit.

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