AMITELO contracts ZTE with the building of a network in Iceland
Zürich (euro adhoc) -
AMITELO AG will carry out the construction and financing of the GSM network in Iceland with the worldwide operating Chinese ZTE Corporation
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Zurich 18th December 2007. AMITELO AG will construct the GSM-1800-Network in Iceland in corporation with the internationally operating ZTE Corporation in Shenzhen, China.
The ZTE Corporation will hand over the network equipment to Amitelo according to supply contract and in course of the development of a mobile phone infrastructure in 2008. ZTE is also financing the largest part of the project in the form of a supplier's credit amounting to around 7 m EUR. After start of operations at the beginning of third quarter of 2008 in the capital Reykjavik, the construction of the network will have been finished by the mid of 2009.
The project in Iceland is expected to generate a turnover of estimated 4 m EUR in 2008. By developing the network construction further and finalising the construction work in 2009, turnover should be raised significantly in 2009 (estimated 10 m. EUR) and 2010 (estimated around 15 m EUR.) With EBITDA-margin of well over 30%, Amitelo manages to open a highly profitable growth sector.
"We are convinced we can develop new and significant potential from our entering the mobile phone market as a network operator. The diversity of mobile applications such as "Mobile Content" and "Ticketing" as well as the possibility to offer products and services beyond the boarders of Iceland increases our prospects there considerably. The development of a GSM-network in Iceland is therewith currently the most important and most exciting AMITELO project. The collaboration with Global Player ZTE is an acknowledgement for our work within the last months, and a logical consequence of a powerful new start. Through the ZTE Corporation secure financing we gain safety for planning and see this gesture as a signal of trust" says Jan Malkus CEO of the AMITELO AG management group
"For the ZTE Corporation the collaboration with AMITELO AG means a welcomed opportunity to become active using our Know-How in a highly developed European technology market. Our partner AMITELO AG persuaded us from the start with professionalism and by having a clear vision for the project in Iceland. The joint implementation and financing are an expression of our persuasion that the construction and operation of the GSM-Network in Iceland will be a success. "We look forward to further joint projects with AMITELO AG already", says Dr. Zhigang Zhang, Managing Director of ZTE Deutschland GmbH.
About ZTE Corporation: ZTE is a global leading provider of telecommunications technology and network solutions. The company offers array of products worldwide covering practically every market segment for fixed line networks, mobile phone networks and mobile phone devices. ZTE delivers innovative, customised products in over 100 countries important for the future of worldwide communications. Around ten percent of ZTE yearly turnover is invested in research and development. In addition, the company plays an important role for many international bodies for the development of new telecommunication standards. ZTE is the fastest growing provider for telecommunications technology in the world and China's only telecommunications supplier listed on the stock exchange. The company shares are traded on the Schenzhen and Hong Kong stock exchange. ZTE is the only Chinese ICT-manufacturer, included in the Business Week 2005 "Information Technology 100" list.
About AMITELO AG: The AMITELO AG (www.amitelo.ag) is an internationally active, innovative technology company based in Zurich that is involved in fast-growing telecommunications areas including mobile phone services. To this end, AMITELO AG follows an assertive growth strategy, in which organic and inorganic developments are closely linked to one another and contribute collectively to the achievement of the company's own goals regarding revenue and output.
Contact:
AMITELO AG Investor Relations ir@amitelo.ag[pic]
end of announcement euro adhoc
Contact:
AMITELO AG
Investor Relations
ir@amitelo.ag
Branche: Telecommunications Equipment
ISIN: CH0003307706
WKN: A0F5YA
Börsen: Börse Frankfurt / free trade/entry standard