ULLs, pay-TV integration boosting ForthNet’s results

1 Sep 2009

Greece’s second largest fixed broadband provider ForthNet has reported that its number of high speed internet customers at the end of June 2009 reached 302,650, after adding 16,320 in the second quarter, whilst it noted that unbundled local loop (ULL) subscribers increased by 22,500 in the three-month period to 254.800. For April-June ForthNet recorded telecoms revenues of EUR43.7 million, an increase of 22.4% compared to Q208, with ULL products and services being the main driver of growth. The shift in focus from resold broadband services to ULL also led to the strengthening of EBITDA, with the company’s EBITDA margin at 11.88%, up from 9.15% the previous quarter. The group also reported that the ongoing integration of pay-TV services would help drive performance; in late August the telco’s first bundles of telecoms and pay-TV services (from DTT unit Nova) were offered to new and existing customers.

Greece, Forthnet (Nova)