Acotel Group SpA reported consolidated earnings results for the first quarter of 2013. For the quarter, the company reported revenue of EUR 28,091,000 compared to EUR 25,165,000 a year ago. Operating loss was EUR 3,782,000 compared to EUR 955,000 a year ago. Loss before tax was EUR 3,802,000 compared to EUR 361,000 a year ago. Loss for the period, attributable to the shareholders of the parent was EUR 4,273,000 or EUR 1.04 per basic and diluted share compared to loss for the period, attributable to the shareholders of the parent of EUR 1,281,000 or EUR 0.31 per basic and diluted share a year ago. Negative EBITDA was EUR 2.8 million compared to positive EBITDA of EUR 155,000 a year ago. For the quarter, the company reported impairment charges was EUR 1,000 compared to EUR 34,000 a year ago.

Acotel Group SpA, Board Meeting, May 15, 2013. Agenda: To consider 2013 first quarterly report.

Acotel Group SpA announced audited consolidated and parent company earnings results for the year ended December 31, 2012. For the year, revenues were EUR 99,387,000, gross operating profit was EUR 1,141,000, operating loss was EUR 3,487,000, loss before tax from continuing operations was EUR 2,345,000, loss from continuing operations was EUR 5,712,000 and loss attributable to owners of the parent was EUR 6,053,000 or EUR 1.47 per diluted share against revenues of EUR 109,197,000, gross operating profit of EUR 6,066,000, operating profit of EUR 2,596,000, profit before tax from continuing operations of EUR 3,731,000, profit from continuing operations of EUR 2,314,000 and profit attributable to owners of the parent of EUR 1,860,000 or EUR 0.45 per diluted share for the same period a year ago. The Group's overall performance was significantly impacted by the operating losses incurred by Noverca Srl and Noverca Italia Srl. Cash flows from operating activities was EUR 402,000 against EUR 10,757,000 a year ago. Purchases of property, plant and equipment was EUR 4,082,000 against EUR 5,288,000 a year ago. Purchases of intangible assets was EUR 1,297,000 against EUR 2,186,000 a year ago. The Parent Company, Acotel Group SpA, generated total revenue of approximately EUR 3.2 million, generated by Service Provisioning for the subsidiary, Acotel SpA. The company reports a gross operating loss (negative EBITDA) of EUR 170,000, marking an improvement on 2011 as a result of the increase in revenue during the year. The operating loss (negative EBIT) amounts to EUR 16,297,000, compared with a loss of EUR 986,000 in 2011. This margin was significantly impacted by the impairment loss of EUR 15,756,000 recognised in order to adjust the carrying amount of the investment in Noverca Srl to its recoverable amount. Loss before tax from continuing operations was EUR 6,238,282, loss from continuing operations was EUR 6,286,771 and loss for the year was EUR 6,001,457 or EUR 1.46 per diluted share against loss before tax from continuing operations of EUR 687,992, loss from continuing operations was EUR 1,179,076 and loss for the year was EUR 526,840 or EUR 0.13 per diluted share for the same period a year ago. Cash flows from operating activities was EUR 450,849 against cash used in operating activities of EUR 1,244,472 a year ago. Purchases of property, plant and equipment was EUR 36,785 against EUR 98,750 a year ago. Purchases of intangible assets was EUR 4,550 against EUR 12,615 a year ago.