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Versatel reports first quarter loss

10 May 2006

Versatel Telecom reported first quarter revenues of EUR103 million (USD130.9 million) for the three months to 31 March 2006, up 15% year-on-year and 2% on a quarter-by-quarter basis. Net income from continuing operations amounted to a loss of EUR23 million compared with a profit of EUR1 million in 1Q05, and EBITDA was EUR14 million, down from EUR20 million a year earlier. The gross margin as a percentage of revenues dipped four points to 51% on an annual basis. Capex in the first quarter of 2006 was EUR34 million, compared with EUR36 million in 1Q05 and EUR45 million in 4Q05.

Versatel said it recorded more than 13,700 orders for its triple-play product during the quarter, including approximately 12,000 over ADSL2+ and approximately 1,700 over satellite. By the start of April Versatel had signed up 66,700 triple-play customers, including approximately 55,000 over ADSL 2+ and 11,700 over satellite. The operator saw a fall in its residential DSL base in the Netherlands, however, losing a net 1,500 customers to end the period with 181,000. In Belgium, the number of residential DSL customers increased by approximately 12,000 in 1Q06 to a total of approximately 70,000.

Belgium, Netherlands, KPN Belgium (formerly Tele2/Versatel), Tele2 (part of Odido/T-Mobile)

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