Jazztel insists future is bright

18 May 2004

Spanish broadband provider Jazztel narrowed its first quarter loss, but remained adamant that it was on course to post a positive full year EBITDA in 2004 despite warning that its 10% revenue growth target could be a little optimistic. The company posted a EUR19 million (USD23 million) net loss for the first three months of 2004, down from a EUR24 million loss a year earlier; EBITDA halved to a loss of EUR1.5 million. Restructuring costs at its telecoms business Adatel impacted on revenues, which fell 3.7% to EUR50.2 million. However, Jazztel Chairman Massimo Prelz remains confident that the company will be free cashflow positive in early 2005 and posting a net profit by 2007.

Spain, Jazztel