Jazztel reveals first full year positive EBITDA

26 Feb 2009

Spanish alternative operator Jazztel has unveiled its financial results for the three months ended 31 December 2008, announcing that it had registered its first full fiscal year with positive earnings before interest, tax, depreciation and amortisation (EBITDA). Jazztel announced that EBITDA had increased 81% year-on-year to EUR2.9 million (USD3.7 million) for the quarter, while full year EBITDA soared by 311% to EUR6.2 million, up from a loss of EUR3 million in 2007. Revenue rose 24% for the three-month period to EUR98 million, and reached EUR348 million for the annual period, an increase of 15%. Revenue was spurred by a significant increase in subscribers to Jazztel’s broadband services, with the operator reporting a 44% increase in sign-ups to reach a total broadband customer base of almost 375,000. Despite the positive news, the operator still reported a net loss for both the fourth quarter and the full year, of EUR9 million and EUR78.6 million respectively. Jazztel has said it hopes to narrow losses to between EUR50 million and EUR60 million in the 2009 fiscal year.

Spain, Jazztel