Mox Telecom AG: Net Profit for 2008 increases 22.7% as company growth remains on course

According to preliminary figures released by the Mox Telecom Group, profits for 2008 increased by 22.7% to approximately €2m. This growth in net profit surpassed turnover growth, which, in spite of the international economic crisis, increased 9% to €85m. Mox now forecasts organic growth of a similar level for 2009.

Of particular focus in 2008 was the development of a new technical infrastructure in the USA. Working together with a local technical partner, the technology location in New York was considerably developed. Since its start up a year ago, 100% of all telephone calls for the American market - in addition to approx 35% of telephone calls for the rest of the world - have been routed through the facility. This New York facility also accounted for over 40% of the Mox Group’s turnover volume in the same period.

As expected, the development of the new technical location continued successfully last year. Hedging through processing purchases and sales in USD also contributed to Mox’s net profit increase in 2008, surpassing the increase in turnover for the same period.

Company spokesperson and founder Dr. Günter Schamel is satisfied with the 2008 results. “Our strategy of handling purchases via our technology location in New York has paid off. Despite the current economic crisis, New York is becoming ever more important as Mox seeks to expand substantially over the coming year in the US market, the largest Calling-Card market in the world.

2009 will also see Mox hoping to build on the success of its “Mobile Dialer”, which has already been launched in the company’s target markets in the Arabian Peninsula.
The “Mobile Dialer” offers customers low cost calls by routing calls through the data networks of their mobile network operators – a type of “Voice-over-IP” service for the mobile communication network.

Mox anticipates an organic increase in turnover for 2009 in line with that achieved in 2008. It is therefore estimated that the resulting profit growth will lie above the growth in turnover and the company expects to competently match the success of previous years.

Dr. Schamel comments on the prospects for the current year: “In difficult economic times such as these, telephone calls at favourable prices are more in demand than ever. We will also maintain our growth course this year. However, we also see chances to grow inorganically – Mox is constantly surveying interesting targets and takeover candidates.” Since 2005, Mox has successfully increased its turnover volume, from a figure of €57m, by 47% - thereby increasing Earnings per Share from €0.48 to €0.76. Dr. Schamel continues “Not only are we rated as competitively priced but even with current market conditions we can offer our investors an attractive dividend yield of approximately 7-8%. We are confident that a dividend equal to that of last year will be proposed at our AGM, one which would represent at least 25c per share.

Mox will present final figures in May/June 2009.

About Mox Telecom:
The Mox Telecom Group is a Global Telecoms provider in the business of developing needs-based telecommunication products, to facilitate low-cost, high-quality, International telephony. The company’s focus is to meet the demands of target groups who have a requirement for affordable, operational and user-friendly Global Telephony. The company, founded in 1998, specialised early on in the development and sale of pre-paid telecommunication services and has since established itself as a leading provider in the market. Besides its main business activity, the calling card, the company has diversified, particularly in the area of cellular telephony. Alongside Germany and several other European countries, Mox operates successfully in USA, Canada, Australia, South Africa, Middle East and Southeast Asia.
For further information please visit www.mox.de and www.mox-ireland.ie

For further information please contact:

IR / PR & Marketing
E-Mail: vorstand@mox.de

Mox Telecom Ireland Ltd.
10 Fitzwilliam Square,
Dublin 2, Ireland
T: 00353 1 6615-538
F: 00353 1 6615-508

Mox Telecom AG
Bahnstrasse 43-45
40878 Ratingen, Deutschland
T: 02102-8636-15
F: 02102-8636-56

This release was published on openPR.