Results show 235% increase on 2005 figures of €136m.
Results show 235% increase on 2005 figures of €136m
Madrid, 26th July 2007 - Spanish multinational LaNetro Zed (Zed), leader in the development and marketing of content for mobile devices and the internet with presence in 37 countries, has attained pro forma revenues of 320.6 million Euros in the full fiscal year of 2006. These results represent a 235% increase over the 136 million reported for the same period in 2005.
The company’s EBITDA has increased by 246% from 25 million Euros in 2005 to 61.1 million Euros in 2006.
The results continue the path of revenue growth obtained during the last 4 years (see table below), and consolidates the trend of strong growth in EBITDA that the company reached in 2005.
Commenting on the results, Javier Pérez Dolset, founder and CEO of Zed, said “we are delighted with the 2006 results, since they represent a validation of our current expansion policy. 2006 has been an important year for us for two reasons: the acquisition of Monstermob and the continued organic growth in those markets in which we already operate. The results support the company’s successful vision of identifying opportunities that can later be built into profitable businesses by applying our technological and commercial knowledge to new markets”.
At the end of 2006 Zed strengthened its world market position by reaching an agreement to take a majority stake in MonsterMob, headquartered in the UK. “The acquisition of one of our main competitors has represented a big step forward for Zed, both financially and geographically and now means we have become the leading player in a consolidating market”, said Perez Dolset.
In 2004, the company had operations in 13 countries, and in three years has managed to increase its presence to four continents and 37 countries, including Europe’s largest markets, as well as Russia, USA and China. This expansion has strengthened the company’s position in key markets and Zed continues to look for further growth opportunities, both organically and through acquisitions.
Zed has also been a pioneer in taking web 2.0 services to mobile, recently developing the world’s first social network, bringing user-generated content, social networking and communication tools to a new integrated mobile and PC environment.