PRESS
RELEASE
IPVG continues to deliver record-breaking
revenues
Hits all time high of PhP828M for
Q1 ‘08
Analysts forecast IPVG IPVG revenues at PhP3.3B for full year
Consolidated revenue
for the first quarter 2008 increased by 167% to PhP 828 million from PhP 310 million
reported in the 4th quarter of 2007. Year-on-Year (YoY) results show a 430%
increase from PhP 156M to PhP 828M.
Earnings Before
Income Tax, Depreciation and Amortization (EBITDA) improved by 371% YoY and the
Consolidated Net Income Before Taxes (NIBT) grew by 453% YoY.
Chief Executive
Officer of IPVG Corp. Enrique Y. Gonzalez said, “IPVG has delivered yet another
quarter of record breaking revenues. This is our 9th consecutive
quarter of an all-time high in terms of revenues. This in itself is evidence of
the long-term sustainability of our high-growth business model focused on IP-based
service industries such as communications, games and BPO. Our financial
performance is testimony that IPVG has reached a new stage in its lifecycle and
maturity as a business. We have operations in 8 countries, top caliber
management in each vertical, and our subsidiaries are considered market leaders
in their respective niches.
We also expect
improvement in our operating margins and efficiencies as we integrate our
strategic acquisitions and maximize our economies of scale. This will begin to
show in 2nd half of 2008 with intention of reaching optimum
efficiency levels in 2009 and 2010. Given this, we expect continued growth and
improvement in our earnings base.
We are extremely
pleased with our operational and financial performance, and we have
strategically positioned our company to become a global player. We will
continue our pioneering and trailblazing efforts on a regional and global
scale. Expect more exciting news throughout 2008 that translate into tangible
financial results.”
Performance breakdown
IPVG opens the year
with triple digit growth from revenues of its established and newly acquired
operating units that gave the conglomerate stable and recurring revenue and
income streams.
IPVG experienced a surge in revenue contribution across all business segments. This was achieved through a combination of organic growth and strategic acquisitions.
