Approximately 874,000 subscribers at the end of June, 80,000 net additions in 2Q
FASTWEB: first half revenues at approximately 578 million Euro
(+37% YoY)
EBITDA +44% YoY at approximately 183 million Euro
Milan, 13 July 2006 - FASTWEB (Milan, MTAX: FWB), Italy's second wireline telecommunications operator, announced preliminary consolidated results for the second quarter and first half 2006 which indicate further growth of all key operating parameters.
FASTWEB reported approximately 874,000 customers at 30 June 2006, an increase of approximately 160,000 subscribers in the first half (+ 57% compared to the net additions in the first half 2005). Net additions in the second quarter were over 80,000, a result that confirms the growth trend recorded in prior quarters. Second quarter net additions were 43% higher than those recorded in the same period 2005.
FASTWEB reported consolidated revenues over 578 million Euro in the first half 2006, an increase of approximately 37% compared to 421.8 million Euro in the corresponding period 2005. Revenues amounted to over 289 million Euro in the second quarter, an increase of approximately 27% compared to 227.6 million Euro last year, despite April 2006 was affected by unusually low seasonality that caused a slow down in the monthly net additions and a temporary reduction in volumes of traffic and service usage.
The company also reported significant EBITDA growth. EBITDA amounted to over 183 million Euro in the first half of the year, a 44% increase compared to 127.2 million Euro in the first half 2005. EBITDA was over 93 million Euro in the second quarter (+39% yoy), with a margin over 32% compared to 29.5% in the corresponding period 2005.
In the light of the first half results, the company confirms the full year targets that envisage approximately 30% revenue and 40% EBITDA growth and free cash flow generation by the year-end.
The above-mentioned numbers are preliminary and subject to possible modification. The final consolidated first half 2006 results will be approved on 13 September 2006.