ForthNet posts 2006 results in line with forecasts

21 Mar 2007

Greek alternative telco ForthNet has released its full year 2006 results, which are in line with expectations. Revenues increased 7% to EUR97.6 million (USD129.8 million), losses before interest, tax and depreciation settled at EUR5 million against an EBITDA of EUR13.5 million in 2005, while net losses reached EUR16.7 million compared to 2005 losses of EUR1.1 million. Forecasts for sales and net losses were EUR98 million and EUR17.5 million, respectively. Financial performance was burdened by high subscriber acquisition costs as the company implements a four-year investment plan costing EUR253 million, aiming at market share expansion and development of its own broadband and fibre-optic infrastructure.

Greece, Forthnet (Nova)