FastWeb results show improvement

6 Aug 2007

Italian ISP FastWeb has reported a 24% rise in first-half revenues to EUR714.4 million (USD983.6 million). First-half EBITDA increased 75% to EUR223.8 million, while consolidated net loss stood at EUR14.9 million, improving on a year-ago loss of EUR47 million. For the second quarter, sales were up by 25% to EUR360.5 million, EBITDA reached EUR137.7 million and net profit stood at EUR5.8 million, reversing a net loss of EUR18.2 million in the same period of 2006. FastWeb had 1.195 million broadband internet customers at the end of June, up from 1.150 million three months earlier. Annualised average revenue per user (ARPU) stood at EUR747 in the second quarter, down slightly from EUR762 in the three months to the end of March. FastWeb was recently acquired by Swisscom of Switzerland.

Italy, Fastweb