FastWeb losses increase

4 Mar 2008

Italian broadband internet service provider FastWeb has reported increased net losses in 2007, with losses widening to EUR124.7 million (USD170.6 million) from EUR123.6 million in 2006. Revenues were up 14% year-on-year at EUR1.43 billion, while EBITDA rose 59% to EUR480 million. FastWeb claimed 1.31 million subscribers at the end of December, with 268,000 net additions in 2007. The firm’s majority owner, Swisscom of Switzerland, has denied reports that it is about to delist FastWeb shares, saying it is ‘evaluating all options’.

Italy, Fastweb, Swisscom