Highlights:
In 2012, Colt grew overall revenue for the first time in seven years. Group revenue grew by 2.6% to €1,594.6m, reflecting growth across all major product categories with Voice revenue stabilising in 2012 (1% growth versus 8% to 12% declines in the previous four years)
EBITDA before exceptional items grew by 0.5% to €333.6m (2011: €332.0m) despite a period of investment in the transformation and growth of the business
An exceptional restructuring expense of €32.0m was recognised in 2012 (2011:nil) with net recurring annual cost savings of approximately €27.0m anticipated by 2014
Net funds reduced from €343.7m in 2011 to €280.1m in 2012, reflecting increased investment in the business and working capital movements
Continued to develop our customer facing organisation by launching a new franchise channel, realigning the direct sales force and accelerating our skills transformation programme, aligning costs related to our legacy business and protecting profits while investing in the business
Enhanced our portfolio in areas such as unified communications, flexible cooling and power in our data centre product and the service foundation platform for our solutions business. The shift in our business towards more service-led contracts continued with 23 new CES contracts in 2012 with a total contract value (TCV) of over €2m (2011: 12)
Expanded and enhanced our next generation infrastructure with significant investments in the core IP backbone, European expansion, new and improved low latency routes, new data centre space and capacity
