Telit has had a good half, showing it is on course for a long-awaited recovery under its restructured management team. Trading has been encouraging; exhibiting double-digit organic revenue growth, notably in IoT Cloud & Connectivity services, while its gross margins are now stabilising. This delivered adj. EBITDA of $12.5m compared with $3.3m in its troubled H2 LY. A sharp focus on working capital saw positive FCF of $3.1m in H1, compared with a c.$50m outflow across 2017. Net debt fell t
04 Sep 2018
Telit - Interims suggest recovery is on course
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Telit - Interims suggest recovery is on course
- Published:
04 Sep 2018 -
Author:
Cavendish Research -
Pages:
7
Telit has had a good half, showing it is on course for a long-awaited recovery under its restructured management team. Trading has been encouraging; exhibiting double-digit organic revenue growth, notably in IoT Cloud & Connectivity services, while its gross margins are now stabilising. This delivered adj. EBITDA of $12.5m compared with $3.3m in its troubled H2 LY. A sharp focus on working capital saw positive FCF of $3.1m in H1, compared with a c.$50m outflow across 2017. Net debt fell t