Losses widen at Tiscali

22 Mar 2007

Italian ISP Tiscali has posted a full-year net loss of EUR136.7 million for 2006, following a loss of EUR12.8 million the previous year. The firm blamed the poor performance on losses and write-downs associated with discontinued operations in Germany and the Czech Republic. Net losses at its two remaining divisions in Italy and the UK stood at EUR59.7 million, an improvement on the 2005 result of EUR106.9 million. Revenues for the year rose 28% to EUR678.5 million, while EBITDA excluding one-time charges was up 44% to EUR100.4 million. The firm reported net debts of EUR397.2 million at end-2006, up from EUR305.5 million a year earlier. Tiscali had more than 1.8 million ADSL customers at the end of December, 77% of which were in the UK.

Italy, United Kingdom, Tiscali, Tiscali UK