Wind quarterly profits up, nine month profits down; announces early debt repayment

8 Nov 2005

Italian telco Wind posted a EUR2 million net profit for the third quarter of 2005, compared with a EUR46 million loss in the corresponding period of last year. Quarterly sales rose 2.9% to EUR1.158 billion, pushing operating profits up 16% to EUR415 million, but net losses for the first nine months of 2005 widened to EUR224 million, from EUR152 million in 2004, due to extraordinary costs linked to the refinancing of the company’s debt following its takeover by the Orascom Telecom-led Weather Consortium in August. Wind is accelerating its debt repayments and says it will clear a EUR290 million loan initially due in 2007 by the end of this year.

Italy, WINDTRE (incl. Wind and 3 Italia)