Sirti is the Italian leader in the design, installation and maintenance of telecom networks. The Group designs, builds, installs and maintains telecommunication systems and networks. Sirti proposes its services to telecommunication operators, urban, rail and highway transport companies, radio and television operators and to public administrators.

Its main clients include Telecom Italia, Libyan Telecommunication Company LPTIC, and Ferrovie dello Stato.

Telecoms represent the Group’s primary business sector accounting for more than 60% of total revenues. Sirti generates nearly 90% of its revenues in Italy, where the Group has a network of 5,000 employees throughout the country.

(*) Percentage of interest of the investment vehicle Broletto 2 in Sirti.

Sirti was delisted in 2008.

Consolidated revenues in 2008 totaled 780 million euros, in line with the previous financial year. Business volumes dropped in the traditional sector of Telecoms and railway, but were offset by the startup of “Next Generation Network” development and the services provided for high-capacity railway networks.

The percentage of foreign operations in Sirti’s revenues increased from 10% in 2007 to 12% in 2008, stimulated by the business momentum in Libya which offset the production slump in Spain and in Saudi Arabia.
The sound performance of Italian operations in terms of EBITDA helped to significantly offset the losses and start up costs of foreign subsidiaries.

Management will implement a cost reduction plan, that will help to bolster Sirti’s efficiency over the next two to three years. Furthermore, Sirti benefits from the recurring nature of many of its operations, and continues its development in Libya, in partnership with LPTIC.