ForthNet’s revenues up 26%, reverses year-ago EBITDA loss

27 Nov 2008

Greece’s largest alternative broadband operator ForthNet has reported a 26% year-on-year rise in its third quarter 2008 revenues, reaching EUR36.9 million (EUR47.9 million). EBITDA in the three months ended 30 September was reported at EUR900,000 compared to losses of EUR4.8 million in the respective period of 2007, whilst net losses stood at EUR9.9 million. ForthNet added 26,100 net new unbundled local loop (ULL) broadband/fixed line subscribers in the quarter, and claimed a 32% share of the Greek market’s total ULL additions. The group’s recent acquisition, pay-TV operator Nova, had revenues of EUR47.3 million in the same period, up 3.6% year-on-year, while the unit’s EBITDA was EUR10.1 million, up 6.9%.

Greece, Forthnet (Nova)