August 13, 2013
Digital TV technology firm Advanced Digital Broadcast Group (ADB Group) remained upbeat despite reporting a slowdown in sales during the first half the year.
ADB said that revenue for the first six months of 2013 reached US$210.4 million (€158.4 million), a 1.5% decrease from the US$213.7 million recorded in the same period of the last year. The firm attributed this to “stronger than usual digital TV equipment sales due to the European Football Championships and the Olympic Games” during the first half of 2012.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) came to US$16.1 million, up 3.1% from US$ 15.7 million last year, while gross profit was US$59.6 million, up 0.9% year-on-year.
“The first half of 2013 has been slightly slower in sales development than last year, but the overall picture is more satisfying. The margin development is going in the right direction,” said ADB Group chairman Andrew Rybicki.
“Our strategy is to focus on margins and cash flow generation, and not grow the top line for the sake of it. Our staff has fully adopted this strategy, and the results are starting to show it. Furthermore, I’m delighted that we have our new CEO, Peter Balchin, to lead the effort of executing our strategy. It is an important step forward for our company.”