Netia Q4 loss shrinks

Poland’s fixed line telco Netia has announced that its fourth quarter net loss fell by 90% thanks to lower costs and the takeover of Tele2 Polska. The net loss shrank to PLN10 million (USD2.7 million) between October and December 2008, from PLN99.9 million a year earlier. Full year revenue reached PLN1.12 billion, in line with the company’s own guidance. Earnings before interest, tax, depreciation and amortisation (EBITDA) reached PLN170.6 million for the twelve month period, ahead of the PLN160 million predicted by the company. Net profit was PLN230.6 million, versus a net loss of PLN268.9 million in 2007; the 2008 figure includes a one-off gain of PLN353 million from the disposal of shares in wireless network operator P4. At the end of 2008 Netia had 413,645 broadband customers and 1.06 million voice telephony customers.