Понедельник , 22:58
Понедельник , 22:58
Годовой отчет ADVA Optical Networking
2009 marked the worst financial crisis since the Great Depression. Global stock markets left investors shell-shocked while plummeting to twelve-year lows in March 2009. Nevertheless, stock markets rallied thereafter, providing major returns for full-year 2009. What began as a year of doom seemed to be rooted in fears rather than reality. 2009 was saturated with extreme uncertainties, continued restrictive bank-lending and cautious consumer spending, but still provided strong returns for loyal investors.2009 also marked the 15th anniversary for ADVA Optical Networking since its inception in 1994. We have enjoyed several highs but also successfully weathered the lows. We harnessed the knowledge of one and a half decades of experience, developing as a company and pioneering technological advances in the Optical+Ethernet transport market. Today, ADVA Optical Networking is going strong: We have grown into a profitable company with 1,100 employees on five continents and have a long history of providing application-focused solutions that add value to, and remove cost from, high-capacity networks.
ADVA Optical Networking’s share price increased 128% in 2009, from EUR 1.11 at year-end 2008 to EUR 2.53 at the end of 2009. While the overall market development certainly helped, we outperformed not only all major technology indices by a wide margin, but also most of our peers.
In a depressed macro-economic environment, ADVA Optical Networking has shown flattish to slightly growing quarterly revenues since Q3 2008, outperforming many of our peers. For full-year 2009, our revenues were at EUR 232.8 million, up 7.0% vs. 2008. This growth goes along with a positive profitability development, with our pro forma operating margin at positive 2.6% of revenues in 2009 after a negative 0.3% in the prior year. Beyond profitability, strong working capital management drove an increase in ADVA Optical Networking’s financial strength. We ended 2009 with an equity ratio of 51.4%, up from 50.1% at the end of the prior year, and net liquidity was at an all-time high of EUR 22.5 million at year-end 2009.