Acotel Group SpA announced consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, revenues were EUR 21,880,000 against EUR 28,011,000 for the same period a year ago. Operating loss was EUR 3,107,000 against EUR 798,000 for the same period a year ago. Loss before tax was EUR 2,533,000 against EUR 480,000 for the same period a year ago. Loss for the period attributable to the owners of the parent was EUR 3,332,000 against EUR 721,000 for the same period a year ago. Diluted loss per share was EUR 0.81 against EUR 0.18 for the same period a year ago.

For the nine months, revenues were EUR 72,880,000 against EUR 82,211,000 for the same period a year ago, the performance is primarily due to the reduced turnover in Brazil, Spain and the USA. Operating loss was EUR 1,573,000 against operating profit of EUR 845,000 for the same period a year ago. Loss before tax was 435,000 against Profit before tax of EUR 1,757,000 for the same period a year ago. Loss for the period attributable to the owners of the parent was EUR 2,777,000 against EUR 487,000 for the same period a year ago. Diluted loss per share was EUR 0.68 against EUR 0.12 for the same period a year ago.

Acotel Group SpA at its board meeting held on November 15, 2012 announced that Mr. Giorgio Girelli was appointed to the Board of Directors. The appointment of Mr. Girelli follows the voluntary resignation of Mr. Luca De Rita who, in addition to retaining his role as the Group's Chief Financial Officer, has been appointed Secretary to the Board. Mr. Girelli, who spent 15 years as a partner with Roland Berger Strategy Consultants before joining Banca Generali, where he was CEO from May 2000 to April 2012 and then Chairman until July 2012, will support the Acotel Group in its business initiatives in Italy and overseas.