MobilCom turns loss into profit for 2003

9 Mar 2004

In a surprise statement a week before it is officially due to release its financial results, German cellco MobilCom has reported a net profit of EUR160.4 million for the full year 2003, turning its performance around from its net loss of EUR3.441 billion previously. The operator, which narrowly escaped bankruptcy in 2002, also announced that EBITDA grew to a profit of EUR103.6 million, from a loss of EUR146.5 million, although revenues fell by around 10.5% to EUR1.84 billion.