Forecasts Strong EBITDA Growth of 42% to $17.3m for FY16
Sydney, Nov 2, 2015 AEST (ABN Newswire) - The Annual General Meeting (AGM) of global telecommunications software and network provider My Net Fone Limited (
ASX:MNF) took place on Tuesday, 27th October 2015. In addition to AGM formalities, CEO Rene Sugo delivered a presentation to shareholders recapping the highlights of a very successful financial year and the proposed strategies for continued growth.
Highlights:
- MNF has had four consecutive years of profitable double digit EBITDA and NPAT growth.
- EBITDA performance was very strong, achieving $12.2m, which was 9% over original FY15 forecast.
- MNF forecasts strong EBITDA growth of 42% to $17.3m for FY16.
- MNF is investing for long term growth.
Building for Growth
- MNF is on the verge of a global & domestic organic growth phase
* There are more opportunities for new business than MNF can service today.
* In the new financial year, focus will be on prioritising in order to deliver highest growth opportunities & capitalise on customer demand
- Ramping up Domestic & Global wholesale customer base
* Domestic Service Provider customers up 45% YoY in FY15.
* Global Service Provider customers up 8% in 6 months since TNZI acquisition.
- Compounding growth
* Adding more Service Provider customers while they also grow their own volumes.
Our long-term strategic growth is anchored on two fronts:-
1. Taking our wholesale services global - leveraging the TNZI assets - by completing the TNZI network upgrades and expansion and rolling out Symbio managed services products into key global markets; and
2. Continuing organic growth domestically - leveraging the existing Small to Medium Business and Wholesale Managed Service product offerings into the domestic market.
In order to meet current and future demands MNF is also planning to increase staff numbers with a recruitment drive for skilled workers that can add value to the business. This has all be planned and fully funded in the FY16 forecast numbers.
With a discerning and conservative approach, the Board of My Net Fone will continue to actively search for and examine further acquisition opportunities, whilst remaining totally committed to driving growth and performance within the business.
MNF remains confident that the company will achieve solid growth in the coming year and well into the future.
To view the complete Annual General Meeting and CEO Presentation, please visit:
http://media.abnnewswire.net/media/en/docs/81298-MNF_ASX_27102015.pdf
About Symbio Holdings Limited
Symbio Holdings Limited (ASX:SYM) is a software company changing the way the world communicates.
Symbio's technology replaces old-fashioned telecom networks with software, making it faster and easier to deliver modern cloud-based communication services, unlocking endless new applications for calling, messaging and phone numbers.
Symbio is the backbone for the global cloud communication industry. Over 500 service providers - from telecom start-ups to the world's biggest software companies - rely on Symbio for the connectivity, quality and expertise they need to solve complex communication challenges.
Headquartered in Sydney, Symbio powers billions of calls and messages each year, owns networks in three countries and employs over 450 staff worldwide.
For more information about Symbio visit www.symbio.global
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