Milan, 13 April 2007 - FASTWEB (Milan MTAX: FWB), Italy's second-largest fixed telecommunications services provider, announced preliminary consolidated results for the first quarter 2007, which confirm further significant growth of all key operating indicators.
The number of clients stood at 1,150,400 as at 31 March 2007, thanks to the 88,000 net additions in the first quarter. Such performance compared favorably with 80,000 net additions in the equivalent period 2006 and confirmed FASTWEB strong commercial success in all the areas it serves.
Further growth was reported in consolidated revenues, which topped 353 million euro in the first quarter, a 22% increase versus 289 million euro in the corresponding period 2006. Revenues were in line with the expected growth profile of the year, also considering that some of the main contracts acquired in 2006 will contribute to revenues progressively over the year.
First quarter 2007 consolidated EBITDA rose to over 120 million euro, up approximately 33% versus 90.1 million euro in the equivalent period 2006. EBITDA margin also improved at approximately 34% versus 31% in the first quarter 2006.
FASTWEB reported free cash flow breakeven in the first quarter 2007, thus confirming the trend that began at the end of 2006.
In the light of the first quarter results, the company confirms full year targets.
The results announced today are preliminary and may be amended during approval of the final consolidated first-quarter results that is scheduled on 11 May 2007.