Year ended
31st December
2006
2007
2008
2009
Revenues (€M)
Year on year growth (%)
74.1
28%
100.5
36%
138.2
38%
171.7
24%
Recurring Revenue (%)
87%
90%
92%
94%
Adjusted EBITDA (€M)
Year on year growth (%)
13.2
100%
29.0
120%
48.3
67%
62.7
30%
Adjusted EBITDA Margin (%)
17.8%
28.8%
34.9%
36.5%
EBITDA and Adjusted EBITDA, as well as recurring revenues, are additional indicators of our operating performance and are not required by, or presented in accordance with, IFRS. They are not intended as a replacement or alternative for measures such as cash flows from operating activities and operating profit as defined and required under IFRS. This information is disclosed to permit a more complete analysis of our operating performance. EBITDA and Adjusted EBITDA, as calculated here, may not be comparable to similarly titled measures reported by other companies.