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Financial report
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NextGenTel Holding ASA 1st half year 2017
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NextGenTel Holding ASA Q2 2017 Financial Report
16 August 2017
3
Condensed consolidated interim balance sheet (unaudited)
Current assets
Trade and other receivables 207 618 200 926 215 459
Cash and cash equivalents 19 423 60 965 66 593
227 041 261 891 282 052
EQUITY
Share capital reduced for treasury shares 2 300 2 298 2 298
Premium paid-in capital 121 325 121 325 121 325
Other reserves -1 822 -2 645 -3 641
Retained earnings 24 016 25 012 38 703
Total equity 145 818 145 989 158 684
LIABILITIES
Non-current liabilities
Long-term interest-bearing debt 9 184 640 261 877 219 874
Deferred tax liabilities 15 555 28 361 21 360
200 195 290 238 241 234
Current liabilities
Trade and other payables 202 573 205 557 225 072
Current income tax liabilities 16 583 17 435 17 335
Short-term interest-bearing debt 9 93 539 89 874 95 084
Deferred income/revenue 70 452 78 103 80 552
383 147 390 969 418 042
Total liabilities 583 342 681 207 659 276
Total equity and liabilities 729 160 827 196 817 960
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NextGenTel Holding ASA Q2 2017 Financial Report
16 August 2017 4
Condensed consolidated interim income statement (unaudited)
Total revenues 317 227 345 531 635 567 689 659 1 358 632
Cost of connection and traffic charges -177 559 -181 531 -352 743 -362 068 -718 559
Salaries and personnel costs -58 123 -60 455 -117 423 -124 253 -246 007
Selling and marketing costs -9 263 -11 509 -18 206 -26 060 -50 622
Other costs -29 174 -30 925 -56 977 -61 650 -117 669
Depreciation and amortization 6, 7 -44 567 -41 203 -89 195 -83 670 -170 526
Operating profit -1 459 19 907 1 023 31 958 55 249
Finance 8 -3 384 -2 855 -6 766 -7 711 -13 372
Profit before income tax -4 843 17 052 -5 743 24 246 41 877
Attributable to:
Equity holders of the parent company -3 645 13 159 -3 780 18 644 32 402
Other comprehensive income Q2 2017 Q2 2016 Jan-Jun 2017 Jan-Jun 2016 Jan-Dec 2016
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NextGenTel Holding ASA Q2 2017 Financial Report
16 August 2017 5
Condensed consolidated interim statement of changes in equity (unaudited)
(Figures in NOK 1000)
Equity as at 1 January 2016 2 328 -30 121 325 -1 490 6 301 128 433
Comprehensive income for the period
Profit for the period - - - - 32 402 32 402
Other income and expenses -
Translation differences - - - -2 151 - -2 151
Total comprehensive income for the period - - - -2 151 32 402 30 251
-
Transactions with owners, recognized directly - - - - - -
against equity
Contributions by and distributions to owners of - - - - - -
the Company
Total contributions by and distributions to - - - - - -
owners of the Company
Equity as at 31 December 2016 2 328 -30 121 325 -3 641 38 703 158 684
Equity as at 1 January 2017 2 328 -30 121 325 -3 641 38 703 158 684
Comprehensive income for the period
Profit for the period - - - - -3 780 -3 780
Other income and expenses
Translation differences - - - 1 819 - 1 819
Total other revenues and expenses - - - 1 819 - 1 819
Total comprehensive income for the period - - - 1 819 -3 780 -1 961
Transactions with owners, recognized directly
against equity
Contributions by and distributions to owners of
the Company
Dividends to owners - - - - -11 505 -11 505
Share-based payment transactions - - - - - -
Share options exercised - 3 - - 597 600
Total contributions by and distributions to owners of - 3 - - -10 908 -10 905
the Company
Equity as at 30 June 2017 2 328 -28 121 325 -1 822 24 016 145 818
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NextGenTel Holding ASA Q2 2017 Financial Report
16 August 2017 6
Condensed consolidated interim statement of cash flows (unaudited)
(Figures in NOK 1000)
Cash flows from operations Q2 2017 Q2 2016 Jan-Jun 2017 Jan-Jun 2016 Jan-Dec 2016
Profit/loss for the year before tax -4 843 17 052 -5 743 24 246 41 877
Taxes paid -2 084 -194 -5 201 -736 -5 703
Depreciation and amortization 44 567 41 203 89 195 83 670 170 526
Net change in current liabilities -4 690 18 644 -24 487 5 987 14 617
Net change in receivables 3 548 -14 990 8 912 -10 784 -21 777
Net cash flows from operations 36 499 61 716 62 676 102 384 200 011
Change in cash and cash equivalents 506 22 443 -47 817 14 626 20 997
Cash and cash equivalents and credit facilities 18 003 38 964 66 593 47 401 47 401
utilised as at beginning of period
Effect of exchange rate fluctuations on cash 914 -443 647 -1 062 -1 806
and cash equivalents
Cash and cash equivalents as at end of period 19 423 60 965 19 423 60 965 66 593
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NextGenTel Holding ASA Q2 2017 Financial Report
16 August 2017 7
NextGenTel Holding ASA
NextGenTel Holding ASA (the Company) is a company domiciled in Oslo, Norway. These June 2017 condensed
consolidated interim financial statements of NextGenTel Holding ASA and its subsidiaries (together the Group) are
for the six months ended 30 June 2017.
The consolidated financial statements of the Group as at and for the year ended 31 December 2016 are available at
www.nextgentelholding.com/investor_relations.
These condensed consolidated interim financial statements of NextGenTel Holding ASA Group have been prepared in
accordance with rules and regulations from Oslo Stock Exchange and International Financial Reporting Standard (IFRS)
IAS 34, Interim Financial Reporting. They do not include all of the information required for full annual financial
statements, and should be read in conjunction with the consolidated financial statements of the Group as at and for
the year ended 31 December 2016.
These condensed consolidated interim financial statements were approved by the Board of Directors on 15 August
2017.
These condensed consolidated interim financial statements have been prepared under the historical cost convention.
They have been prepared under the same accounting principles as those set out in the consolidated financial
statements of the Group as at and for the year ended 31 December 2016.
Note 4: Estimates
The preparation of interim financial statements requires management to make judgments, estimates and assumptions
that affect the application of accounting policies and the reported amounts of assets and liabilities, income and
expense. Actual results may differ from these estimates.
In preparing these condensed consolidated interim financial statements, the significant judgments made by
management in applying the Groups accounting policies and the key sources of estimation uncertainty were the same
as those that applied to the consolidated financial statements as at and for the year ended 31 December 2016.
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NextGenTel Holding ASA Q2 2017 Financial Report
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Note 5: Segment information
The group has defined and presented operating segments based on information that is provided to the Board of Directors and CEO, which collectively
represent the group's highest decision-making body. The operating segments are defined based on where the customers are domiciled. The following four
operating segments have been defined: Norway, Denmark, Switzerland and the Netherlands. The risk and return are influenced by the geographic location of
the operations, in addition to the market. Transactions between the segments are eliminated.
Geographical segments
(Figures in NOK 1000) Q2 2017
Profit and loss by segment Norway Denmark Netherlands Switzerland Other 1) Group
Total revenues 313 962 5 398 3 094 3 886 1 205 327 546
Intra-group revenues -9 114 0 0 0 -1 205 -10 319
Net revenues 304 848 5 398 3 094 3 886 0 317 227
Total costs of sales -178 488 -1 783 -2 024 -1 678 0 -183 973
Intra-group cost of sales 4 812 0 1 602 0 0 6 414
Net cost of sales -173 676 -1 783 -422 -1 678 0 -177 559
Total operating expenses -126 755 -1 809 -465 -1 246 -14 702 -144 978
Intra-group operating expenses 2 863 667 0 320 0 3 851
Net operating expenses -123 892 -1 142 -465 -926 -14 702 -141 127
Q2 2016
Profit and loss by segment Norway Denmark Netherlands Switzerland Other 1) Group
Total revenues 335 743 6 638 3 762 4 237 1 039 351 419
Intra-group revenues -4 849 0 0 0 -1 039 -5 888
Net revenues 330 894 6 638 3 762 4 237 0 345 531
Total costs of sales -180 534 -2 894 -1 524 -2 166 0 -187 118
Intra-group cost of sales 4 719 0 869 0 0 5 587
Net cost of sales -175 815 -2 894 -655 -2 166 0 -181 531
Total operating expenses -127 723 -2 228 -326 -1 533 -13 362 -145 172
Intra-group operating expenses 0 737 0 343 0 1 079
Net operating expenses -127 723 -1 491 -326 -1 190 -13 362 -144 093
Jan-Jun 2017
Profit and loss by segment Norway Denmark Netherlands Switzerland Other 1) Group
Total revenues 627 640 10 823 6 167 7 339 2 545 654 514
Intra-group revenues -16 402 0 0 0 -2 545 -18 947
Net revenues 611 238 10 823 6 167 7 339 0 635 567
Total costs of sales -353 424 -3 567 -3 974 -3 333 0 -364 298
Intra-group cost of sales 8 321 0 3 234 0 0 11 555
Net cost of sales -345 103 -3 567 -739 -3 333 0 -352 743
Total operating expenses -252 714 -3 797 -762 -2 532 -29 281 -289 085
Intra-group operating expenses 5 289 1 346 0 649 0 7 284
Net operating expenses -247 425 -2 451 -762 -1 883 -29 281 -281 801
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NextGenTel Holding ASA Q2 2017 Financial Report
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16 August 2017
Jan-Jun 2016
Profit and loss by segment Norway Denmark Netherlands Switzerland Other 1) Group
Total revenues 672 702 13 736 7 972 8 795 2 171 705 376
Intra-group revenues -13 546 0 0 0 -2 171 -15 717
Net revenues 659 156 13 736 7 972 8 795 0 689 659
Total costs of sales -359 387 -6 136 -4 872 -4 368 0 -374 762
Intra-group cost of sales 9 217 0 3 477 0 0 12 694
Net cost of sales -350 170 -6 136 -1 395 -4 368 0 -362 068
Total operating expenses -262 503 -4 428 -1 074 -2 889 -26 957 -297 851
Intra-group operating expenses 0 1 504 0 714 0 2 217
Net operating expenses -262 503 -2 924 -1 074 -2 175 -26 957 -295 634
30.06.2017
30.06.2016
1)
Other items include the parent company NextGenTel Holding ASA and Group adjustments (Q2 2017 includes amortization of
NOK 12.1 million related to the acquisition of NextGenTel AS, Kvantel AS and Kvantel Voice AS).
Revenue by product
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NextGenTel Holding ASA Q2 2017 Financial Report
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16 August 2017
Note 6: Property, plant and equipment
Goodwill
Book value beg. of period 132 672 132 672 132 672 132 672 132 672
Book value end of period 132 672 132 672 132 672 132 672 132 672
Intangible assets and goodwill 300 135 322 102 300 135 322 102 318 519
Amortization of intangible assets include amortization of excess values related to the acquisition of NextGenTel AS,
Kvantel AS and Kvantel Voice AS (Q2 17: NOK 12.1 million, YTD 17: NOK 24.2 million).
Note 8: Finance
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NextGenTel Holding ASA Q2 2017 Financial Report
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16 August 2017
Note 10: Alternative performance measures (APMs)
Alternative performance measures are performance measures not within the applicable financial reporting framework (IFRS). Financial APMs are intended
to enhance comparability of financial performance over time and are frequently used by analysts and investors. APMs may also be used internally as basis
for performance related remuneration.
EBITDA
(Figures in NOK 1000) Q2 2017 Q2 2016 Jan-Jun 2017 Jan-Jun 2016 Jan-Dec 2016
Long-term interest bearing debt 184 640 261 877 219 874
Short-term interest bearing debt 93 539 89 874 95 084
Cash and cash equivalents -19 423 -60 965 -66 593
Net interest-bearing debt (NIBD) 258 756 290 786 248 365
Equity ratio
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NextGenTel Holding ASA Q2 2017 Financial Report
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16 August 2017
Responsibility statement
Today, the board of directors and the chief executive officer reviewed and approved the half-yearly board of
directors report and the condensed consolidated half-yearly financial statements for NextGenTel Holding ASA
as of 30 June 2017 and for the sixmonth period ended 30 June 2017.
The half-yearly financial statements have been prepared in accordance with IAS 34 Interim Financial Reporting
as endorsed by the EU, and the Norwegian additional requirements in the Securities Trading Act.
To the best of our knowledge, the half-yearly financial statements for 2017 have been prepared in accordance
with applicable accounting standards and give a true and fair view of the assets, liabilities, financial position and
profit as a whole as of 30 June 2017. To the best of our knowledge, the half-yearly board of directors report
includes a fair review of important events that have occurred during the first six months of the financial year, and
their impact on the half-yearly financial statements, together with a description of the principal risks and
uncertainties for the remaining six months of the financial year, and the description of major related party
transactions.
Board of Directors
NextGenTel Holding ASA
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NextGenTel Holding ASA Q2 2017 Financial Report
16 August 2017 13
Company Facts
NextGenTel Holding ASA
Harbitzalleen 2A
P.O. Box 54 Skyen
0212 Oslo
Board of Directors
Group Management
Investor Relations
Financial Calendar
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NextGenTel Holding ASA Q2 2017 Financial Report
16 August 2017
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