Milan, Oct. 8, 2002 - HanseNet Telekomunikation GmbH, e.Biscom SpA's (Milan's Nuovo Mercato: EBI) German broadband telecommunication company, has achieved EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) break-even in the third quarter 2002 -- ahead of schedule. This accomplishment comes in just two years since e.Biscom took control of the Hamburg-based company.
Further, the development comes just one quarter after FastWeb, e.Biscom's Italian broadband telecommunication company, announced EBITDA break-even. FastWeb's EBITDA, which stood at about 6 million Euro at the end of the third quarter, will continue to grow in the coming quarters as will HanseNet's. This puts e.Biscom on track to reach consolidated EBITDA break-even next year.
Clients of both companies at the end of the third quarter rose nearly 25% to over 190,000 from 156,000 at the end of June. Of this total, over 60,000 were German clients in the Hamburg area. In September alone, FastWeb acquired over 17,000 new clients. This puts e.Biscom well on its way of beating its pre-announced, year-end target of 200,000 acquired clients. e.Biscom now expects to close 2002 with approximately 240,000 customers.
FastWeb has reached nearly 1.2 million homes with its fiber-optic network in Italy while more than 800,000 homes have been reached by the company's ADSL service, the fastest ADSL offer currently available in Italy (up to 2 Mb/s downstream).
The above-mentioned numbers are preliminary and are subject to small modifications. The final consolidated results for the Group for the third quarter of this year will be announced on Nov. 14.
e.Biscom
e.Biscom is Italy's leading operator of broadband telecommunications and media services. The company was founded in September 1999 by a partnership of Italian managers with successful careers in developing high-potential telecommunications initiatives and outstanding expertise in start-ups. Leveraging its unique competencies in the management of integrated IP networks and the development and marketing of broadband and video services, e.Biscom has established itself as a key player at the forefront of the broadband revolution in Italy and in Europe. e.Biscom has been listed on Milan's Nuovo Mercato since March 30, 2000 (with an IPO that raised proceeds totaling 1.6 billion Euro).