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ATM S.A. records good performance in the first half of 2012

ATM S.A. presented its financial results for the first six months of 2012. EBITDA closed at PLN 19.8 million (an increase of 13% compared to the first half of 2011), margin from sales amounted to PLN 36.1 million (4% up y/y) and operating profit to PLN 9.90 million (18% up y/y). Net profit from continuing operations was down by 12% to PLN 6.83 million as a result of one-off events.

The entire first six months can be considered as very successful despite a weaker second quarter of the year. The sales of data center services, offered under the brands of ATMAN and Thinx Poland, once again turned out to be the main driver of growth in the telecommunications business, scoring record financial results in the first half of 2012, said Maciej Krzyżanowski, the President of the Management Board at ATM S.A.

It is the colocation and hosting services that are subject to particular expansion of ATMs offer, which today is being used by over 400 customers in Poland and overseas. Revenues generated in the first half of 2012 exceeded PLN 22 million, recording an increase in excess of 30%, compared to the corresponding period of 2011, added Maciej Krzyżanowski.

Data transmission and fiber optic services, contributing more than 35% of telecommunications revenue, is the second area of the telecommunications activity of ATM. This area recorded an increase of sales revenue in excess of 11%, resulting both from performing contracts for other telecommunications operators and from an increase in sales of data transmission services to the business sector.

The third sector of ATMs telecommunications activity Internet access services is still in a slowdown, with a 2% decrease in sales revenue, compared to the corresponding period of 2011.

Financial result

Consolidated sales revenues in the first half of the year amounted to PLN 96.9 million (47% up y/y), margin from sales to PLN 36.1 million (4% up y/y), operating profit to PLN 9.90 million (18% up y/y) and EBITDA to PLN 19.8 million (13% up y/y). Compared to the corresponding period of 2011, net profit from continuing operations dropped by 12% to PLN 6.83 million; however, this fall in profit is exclusively the result of additional financial income in the first quarter of 2011 from disposal of 60% share in inONE company. Furthermore, ATMs consolidated financial results suffered from the commencement of liquidation of mPay International Sp. z o.o., a company that was dormant in the last few years.

The bankruptcy of mPay International Sp. z o.o. and the related revaluation write-down will not burden ATM cash-wise, nor will they have any impact on the functioning of mPay S.A., which successfully operates on the mobile payment market. Accounting-wise, on the other hand, the revaluation write-down loss of PLN 1.35 million was charged against our consolidated profit while PLN 5.51 million was charged against business unit profit, said Tadeusz Czichon, Vice-President and CFO of ATM S.A.

Completion of the division into two listed companies

The first half of 2012 was important in terms of organising the structure of the capital group of companies. We have managed to successfully complete the process of dividing ATM into two companies listed on the Warsaw Stock Exchange, and, in the opinion of the management board, the completion of this almost four-year long process, now, less than four months later, has brought real benefits to the shareholders. Since the first day of trading of ATM under its new structure, the share price has increased by 41%*, to a level similar to that of the Reference Date, on which the company was quoted under the old structure, and, what is more important, the valuation of both, already independent, companies, which are owned by ATMs existing shareholders, has increased in that period by 17%.

*) Period between May, 17th and August, 27th, 2012

is a Polish public company (WSE: ATM) providing innovative ICT solutions for business since 1991. Under the brands of ATMAN and Thinx Poland the company offers telecommunications services based on its own fiber networks and three data centers in Poland, with over 8,300 sq m (ca. 89,300 sq feet) of state-of-the-art colocation space. Key elements of ATMs offer include: colocation and hosting, broadband data transmission and Internet access. In particular, carriers, Internet portals, traditional media and financial institutions may be found among the receivers of ATM services.

The company is the only Polish operator present in all three of Europe's largest interconnect nodes: AMS-IX Amsterdam, DE-CIX Frankfurt and LINX London.
More information at www.atman.pl and www.thinx.pl.

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