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17 May 2012

Lebara Delivers Another Successive Year of Growth

LEBARA DEFIES CHALLENGING CLIMATE TO DELIVER ANOTHER SUCCESSIVE YEAR OF GROWTH
 Financial results released today reveal increased revenue, gross profit and customers from FY2010
 Company continues to deliver strong operating profit and robust end of year cash balance
 Lebara is steadfast in its 2020 vision to be the brand of choice for one billion people
Today Lebara – one of Europe’s leading mobile telecoms operators for ethnic and migrant communities – reveals another year of robust growth despite the continuing challenges of a tough economic climate, the competitive marketplace and continued investment in technology and innovation to deliver greatest possible value to customers.
FY2011 results show that Lebara’s revenues have increased by €84m (15%) to €648m. Gross profit margin is also up year-on-year from 25% to 29%. These increased revenues and gross profit margins are driven by a continually expanding customer base, which has increased by 27% to 3.8m as at the end of FY20111. This growth is in direct response to Lebara’s strong focus on the customer and providing them with low cost services of the highest possible quality.
Continues to deliver strong operating profit and healthy end of year cash balance
Alongside a 15% increase in revenue, Lebara’s operating profit is a robust €20m with an end of year cash balance of €59m. These strong results follow increased investment in new technology systems to deliver continued enhancement of the customer experience and service delivery.
As part of Lebara’s on-going commitment to be a low cost, high quality provider of services, the company is always looking at its business and structure to ensure it remains flexible and efficient, and continues to deliver excellent value to customers through high quality services and low cost products, as well as achieving its long-term growth ambitions.
A review of operations has resulted in the realignment of some business functions in the first quarter of 2012 and – as a consequence – a small proportion (8%) of jobs within the Group and UK divisions have come under review as part of a streamlining process. The company is confident that these changes will drive greater focus and efficiency, delivering best value back to its customers and enabling future expansion.
1 Customer base is measured by the number of 90 day end of period customers
Consistent customer focus will drive future success
The company’s increasing customer base and consistent business performance is testament to the continuing commitment to best-in-class customer experience. This was demonstrated at the 2012 Mobile News Awards2 where Lebara beat fierce competition to bag the “Best Customer Service” Award for a second consecutive year. At the same award ceremony, Lebara also took home the sector Award for “Best Mobile Virtual Network Operator”, an unprecedented industry hat-trick.
The successes of 2011 and recent consolidation activities mean that Lebara is fighting fit and ready to capitalise on the opportunities of FY2012, and building towards its 2020 vision.
Company Founder and CEO Yoganathan Ratheesan commented, “We are delighted to report another year of positive financial results, which support our continuing belief that our business success relies on delivering exceptional value and high service levels to our customers. Our business is founded on our unparalleled understanding of our customers and our commitment to improving their lives through the provision of low-cost, high-quality services that allow them to connect with their friends and family back home.
“We know that we have to continually evolve to remain at our best and competitive in this market place, and recent changes have ensured just that. The savings we have made across the business will be reinvested to continue to deliver maximum value to our customers through more low cost products and high quality services.”
The 2020 vision has led Lebara to investigate new opportunities for the business. The company continues to explore new ways to deliver innovative new products and services and the best possible combination of cost and quality.
About Lebara
Lebara is one of Europe’s leading mobile telecoms operators, enhancing the lives of ethnic and migrant communities by providing high quality and low cost international mobile products and services. Lebara provides Pay As You Go mobile SIM cards and related products and services customised to serve the migrant communities in seven European countries as well as Australia. In March 2011, it expanded its services by launching Lebara Money in the UK, a simple and secure MasterCard® prepaid card, offering highly competitive exchange rates and no transfer fees for customers wishing to send money abroad.
In March 2012, Lebara was awarded the “Best Customer Service” Award for the second year running at the UK’s Mobile News Awards 2012, beating fierce competition. Lebara also received the “Best Mobile Virtual Network Operator (MVNO)” accolade for the third year running. The awards recognise excellence, best- practice and innovation in the UK’s mobile telecommunications industry. In addition, Lebara was a recipient of the Best Company ‘one to watch’ award in January 2012 - www.bestcompanies.co.uk.
2 The Mobile News Award winners for 2012 were announced at the Hilton Park Lane on Thursday 15 March 2012