Versatel Germany’s revenues up 29%

14 Aug 2008

German broadband network operator Versatel Communications has posted a 29% year-on-year rise in revenues to EUR211 million (USD315 million) for the second quarter, which helped it to turn a net profit following five consecutive quarters of losses. Net income in the three months ended 30 June 2008 was EUR7.9 million, compared with a loss of EUR56.6 million a year earlier, and adjusted EBITDA rose 68.2% to 65.1 million. Versatel added 25,727 net new DSL broadband customers in 2Q, down from 30,100 additions in the previous quarter and 44,800 in the second quarter of 2007.

Germany, 1&1 Versatel