Jazztel net losses narrow in 3Q

7 Nov 2008

Spanish alternative operator Jazztel has revealed its results for the three-month period ended 30 September 2008, narrowing its losses for the quarter to EUR20.6 million (USD26.5 million), compared with EUR21.8 million last year. Revenues for the operator also improved, climbing 22% year-on-year to reach EUR87.5 million, whilst earnings before interest, tax, depreciation and amortisation (EBITDA) increased 172% to EUR2.8 million. Following the positive results Jazztel has reiterated its targets for the year, stating it expects to end the year with total revenues between EUR340 million and EUR380 million, with EBITDA predicted to be as much as EUR10 million. The operator has indicated that it expects to turn a profit by 2010.

Jazztel, one of the main competitors to Spanish incumbent Telefonica, offers services including fixed line, broadband and mobile telephony, the last of which it launched as an MVNO on the Orange Espana network in June 2008. In its third-quarter report the operator revealed that it had added 9,411 mobile subscribers over the quarter, bringing its total to 13,783, whilst ADSL subscribers increased 38% y-o-y to 346,190.

Spain, Jazztel