Albacom, the Italian corporate communications provider acquired by the UK’s BT Group in February, has rebranded as BT Albacom and posted a 33% rise in EBITDA for its fiscal year ending 31 March 2005. Turnover for the twelve months was EUR664 million, up from EUR638 million the year before, whilst EBITDA reached EUR53 million, bolstered by a number of new contracts in the public administration sector. The telco also succeeded in reducing its net debt by 57% thanks primarily to the repayment of bank loans totalling EUR250 million. Albacom ended March with 240,000 business clients.
BT says it expects Albacom’s revenues to reach EUR1 billion this fiscal year, following the recent renewal of a number of high profile contracts with the likes of Mediaset and ENI. The telco is also reportedly mulling an alliance with Hutchison Whampoa’s Italian H3G business. According to Il Sole 24, Albacom is considering buying broadband data capacity from H3G to resell to its corporate customers.