Pan-European internet service provider Tiscali has said that its revenues grew by 20% to EUR901 million in 2003 on the back of a surge in demand for its ADSL services. Access revenues comprised 68% of total turnover at EUR613 million, up 19% from 2002, whilst income from voice services rose by 8% to EUR70.4 million. Tiscali said EBITDA was positive for the fifth straight quarter, at EUR74.7 million, with gross profit reaching EUR455.1 million, or 51% of turnover. Net losses for 2003 stood at EUR242.4 million, a marked reduction on the previous year’s loss of EUR593 million, whilst net debt was EUR322 million.
At the end of 2003 Tiscali claimed 840,000 customers were taking its internet offering via ADSL, a rise of 600,000 over the year. The growth has continued into 2004, with 400,000 new customers in the first three months taking the company’s total to 1.24 million at the end of March.