Netgem ended 2013 with 15,000 subscribers to its LaBox service in France, though its revenues in the country were 35% down on a year earlier.
This was only a few months after LaBox’s launch and the company expects distribution via operators– Virgin Mobile, Citiplay and Ozone at this stage – to contribute to growth this year.
Netgem had revenues of €23.5 million in Q4 2013, or 2% more than a year earlier.
Over the year as a whole, they were, at €81.3 million, barely changed on the €81.2 million in 2012.
Netgems’s international revenues in Q4 amounted to €19.4 million, or 11% more than a year earlier, while for 2013 as a whole they came to €63 million, or 19% more than in 2012.
Meanwhile, those in France in Q4 were €4.1 million, or 25% down on a year earlier.
The whole-year total was 35% down year-on-year at €18.3 million.
Commenting on the results, Netgem said it “intends to strengthen its approach, already successfully initiated in the Asia Pacific region, consisting in bringing operational and commercial resources closer to countries with robust growth prospects. No later than this current quarter, Netgem will create a subsidiary in Mexico to support Iusacell, the optical-fiber operator in Mexico City.
“In this context, the Group maintains its objective to double its international revenue between FY2011 and FY2014, confirming the return to growth started in FY2013. The Group expects to continue to grow profitably, maintaining its high investment capacity, with a strong cash position and no debt.”
