Broadband operator Fastweb reported net profit of EUR6 million (USD7.65 million) for the full year 2008, compared to a loss of EUR125 million in 2007. The operator recorded its first full-year profit on the back of a 19% year-on-year increase in revenue in 2008 to EUR1.71 billion. EBITDA was EUR512 million, excluding a one-time gain of EUR30 million in the second quarter of the year.
The company performed especially well in the final quarter of the year with revenue growth of 21% to EUR467 million. EBITDA for the three months to 31 December 2008 rose 39% to EUR146 million, with a margin of 31%.
The Swisscom subsidiary ended the year with 1.48 million subscribers. Fastweb launched mobile services for residential customers in September and claimed around 30,000 active SIM cards at 31 December.