GTS Central Europe, a major provider of integrated telecommunications services, recorded the highest level of income before tax, interest, depreciation and amortization (EBITDA) in its history.
GTS had revenues of 387 million euros on the increasing profitability and the free cash flow was 42 million euros, representing an increase of 6% over the previous year.
“Using the cash flow generated we have completed our basic portfolio with a series of strategic acquisitions in 2010, thereby expanding our customer base, network and product offerings in several markets”, said Gerald Grace, CFO, GTS.
“Capital investment in 2010 enabled us to introduce next-generation Ethernet services, but also to add nearly 500 buildings to the optical fiber network owned and operated. In 2011, we continue to focus on serving our customers in all business units and will have a better performance”, said Danny Bottoms, CEO of GTS.
GTS CE group is owned by a consortium of private equity investors led by Columbia Capital and M/C Venture Partners, U.S. investors with extensive experience in telecommunications and technology service based and Innova Capital, a major group of private equity focused on Central Europe. HarbourVest Partners, Oak Investment Partners and Bessemer Venture Partners are a part of the Consortium as well.
GTS Telecom has 125 employees and had a 2009 turnover of 20 million euros with an operational income (EBITDA) of 5.2 million.