FastWeb announces 9M revenues of EUR1.4 billion; Consumer Business unit still dominates

3 Nov 2010

Italian broadband provider FastWeb has reported revenues of EUR1.4 billion (USD1.95 billion) for the nine months ending 30 September 2010. This figure represents a 2.9% increase year-on-year. EBITDA for the period is up 1.5% to EUR410.5 million, whilst consolidated net profit was EUR10.7 million. Operating revenue for the third quarter increased 5.5% to EUR470.5 million, of which Consumer Business accounted for the lion’s share at 38.2% of revenues, or EUR180 million. Executive Business generated EUR142 million (30.2%) and SME Business brought in EUR92.5 million (19.6%). FastWeb’s brand new Wholesale unit, which launched in 2Q10, accounted for the remaining 12% of revenues, or EUR56.1 million.

In operational terms FastWeb added 67,800 broadband subscribers in the first nine months of 2010, raising its total subscriber base to 1.71 million, a 4% increase compared to the end of 2009. FastWeb reports that the split between residential and business clients was unchanged at 80% and 20% respectively. Meanwhile, FastWeb’s MVNO mobile service, which launched in 2008 over the network of 3 Italia, had signed up a total of 330,000 customers by end-September 2010, up 57% from 210,000 at end-2009. The company credits the net addition of 120,000 mobile customers during the first nine months of 2010 to a renewed focus on targeting its existing broadband subscriber base.

Italy, Fastweb