Netia says P4 losses widened in Q2

10 Jul 2007

Losses at Poland’s newest wireless network operator P4 (Play), rose in the second quarter and will have a negative impact on the results of its parent Netia, according to a Netia official. Pre-launch costs for the mobile network, a joint venture with Islandic fund Novator and Cyprus-based Tollerton Investments, was behind almost PLN26 million (USD9.4 million) of Netia’s PLN38 million first-quarter loss. According to Netia’s Stategy Director Piotr Czapski the costs of the network have risen since its launch in March.

Czapski also said Netia was looking at ‘a few’ acquisition targets away from the wireless sector, but gave no further details. The company plans to take more than 10% of its 2009 forecast of a million broadband customers from acquisitions of smaller operators. Netia has more than doubled its number of broadband users this year to 135,000, mainly thanks to its deal to use the network of Poland’s biggest telecom TP Group, and plans to finish the year with around 200,000 customers.

Poland, Netia, Play (P4)