T-Online posts first profit

11 Nov 2003

Deutsche Telekom’s internet subsidiary T-Online has reported a net income of EUR3 million (USD3.4 million) for the third quarter of 2003 compared with a loss of EUR291.8 million in 2002, its first profit since selling shares to the public. The company has put the turnaround down to it adding more customers to its broadband internet service and shifting users to fixed hourly tariffs, boosting sales. EBITDA for the three-month period rose to EUR82 million from EUR34.1 million, while revenues stood at EUR452.7 million, up from EUR377.4 million. At the end of September, T-Online had 12.9 million customers, an increase of 231,000 in three months.