ForthNet’s broadband/fixed line sales up 23.8% in first-half, but losses still mount up

1 Sep 2010

Greek triple-play operator ForthNet’s broadband and fixed line revenues (excluding its pay-TV business) increased by 23.8% year-on-year to EUR102.6 million (USD130.1 million) in the first six months of 2010, although losses before taxes for the segment widened to EUR15.7 million, compared to EUR14.3 million in the first half of 2009. ForthNet’s fixed line/broadband EBITDA reached EUR11.3 million in January-June 2010, although the segment recorded a six-month net loss of EUR19.1 million. The alternative telco continues to invest in expanding its local loop unbundled (LLU) network and by the end of June 2010 its total broadband customers numbered 439,000, up from 364,000 at the start of the year, with 89.1% of customers accounted for by LLU and the remainder subscribing to resold ADSL services.

Greece, Forthnet (Nova)