Inabox Group doubles EBITDA from last year
IT, Cloud, and IP services company, Inabox Group (ASX:IAB), has achieved an earnings before interest, tax, depreciation and amortisation (EBITDA) of $2.6 million for its first half 2016 financial results for the half year ending December 31, 2015.
Its EBITDA was up 144 per cent from the same time last year.
Its revenue was $41.9 million, up from $23.3 million the same time last year. As for its net profit after tax (NPAT), it amounted to $0.4 million, a 15 per cent increase from the $0.37 million it achieved the year before.
Inabox operates three business units – its indirect business contributed $24.3 million in revenue, an increase of eight per cent compared to the first half of last year; its enablement business contributed $1.4 million in revenue, an increase of 93 per cent from the same time last year; and its direct business contributed $16.2 million in revenue.
Inabox acquired its direct business (Anittel) on January 1 last year, so it made no contribution in the first half of 2015.
Inabox said it is pleased with the progress of all business units and its board has reaffirmed its previously announced EBITDA guidance for FY16 of more than $5 million.
It added that the acquisition of Anittel initially substantially increased its cost base, but the integration and restructuring completed in the second half of last year allowed Inabox to achieve expense synergies and make further investments in sales, products and systems development.
“These investments have strengthened Inabox’s businesses, expanded margins and positioned it for future revenue growth,” Inabox Group managing director and CEO, Damian Kay, said in a statement on the ASX.
