FastWeb customers up to more than 456,000: record growth in September
Consolidated revenues rise 67% to ? 521 million in the first nine months 2004
Milan, 11 October 2004 - e.Biscom S.p.A. (Milan, Nuovo Mercato: EBI), Italy's leading broadband telecommunications company, released preliminary consolidated figures for the third quarter of 2004, which confirm strong quarterly growth in revenues, customers and EBITDA.
e.Biscom reported consolidated revenues totalling more than ? 521 million for the first nine months 2004, a figure that equals the 2003 full year revenues (which also included HanseNet revenues). The increase versus the first nine months 2003 was of 67% (+35% including HanseNet revenues). e.Biscom consolidated revenues were in excess of ? 184 million in the third quarter 2004, compared to ? 179 million in the second quarter this year.
Growth was also reported on consolidated EBITDA that was approximately equal to ? 157 million in the first nine months of the year, a 159% increase compared to the ? 60.6 million reported in the corresponding period 2003 (and still more than doubled including the positive contribution from HanseNet). e.Biscom consolidated EBITDA rose to more than ? 57 million in the third quarter 2004 (from ? 52.8 million in the second quarter), representing 31% of consolidated revenues.
Although the July-September period is exposed to unfavourable seasonal factors, new subscribers numbered 39,000, a result substantially unchanged from the third quarter 2003 which benefited from the commercial launch of TV over ADSL services and the inclusion of SKY packages in the television offer. Total number of FastWeb customers had risen to more than 456,000 by 30 September 2004, up by 57% from 290,200 at the end of September 2003. In terms of new customer acquisitions, September 2004 was the Group's best month ever.
"Our industrial operations are fully on schedule with the timetable set out in the strategic plan presented in 2003," said e.Biscom Chairman and CEO, Silvio Scaglia. "Not only is our revenue and profitability growth in line with targets, but the network roll-out (which in the third quarter saw the start-up of our services in the city and industrial district of Alessandria) and the activation of new customers are proceeding according to our investment plan."
The procedures for merging e.Biscom and FastWeb are nearing completion. The company is considering the possibility of proposing e.Biscom Shareholders' Meeting to adopt the name FastWeb for the merged company, in view of the high visibility achieved by the Group's service brand.
The figures released by e.Biscom are based on preliminary data and are subject to change prior to presentation of the official third-quarter consolidated results, scheduled for Friday 12 November 2004.