FASTWEB announces its first semester financial results. In June the fibre operator’s customer base reached 1.89 million units, growing by 12,8% or 214,000 new broadband subscribers, compared to 1.67 million of a year before. FASTWEB is thus confirmed as the Italian leader in terms of subscribers growth.
The success achieved in the residential market and the stable performance in the Enterprise market, which generates about half of FASTWEB’s turnover, allows the company to confirm its business targets for 2013.
During the first semester 2013 FASTWEB’s revenues reached 785 million euro, almost stable with respect to the year-earlier figure of 798 million euro (-1,6%) and net of low margin hubbing revenues, which the Company has planned to gradually reduce. The gross figures were respectively equal to 810 and 853 million euro.
The Residential business unit has substantially contributed to the turnover growth with an increase of 7 million euro compared to the second quarter 2012.
In the Enterprise segment FASTWEB has reinforced its co-leadership of the market. The acquisition of new corporate contracts has registered a very positive trend with a 64% win rate in negotiations. The Italian State Police and Miroglio Group (textiles) are among the new contracts signed in the quarter.
Inline results were also obtained by the Enterprise Business Unit thanks to the new VAS ICT services (Cloud computing, Security and Housing/Co-location), which enrich FASTWEB’s telecommunication services portfolio and further respond to the ever-increasing complexity of large corporations’ and Public Administration’s requirements.
The Ebitda reflects the Company’s policy of investments focused on the growth and the commercial effort endured during the semester: the Ebitda was 210 million euro, 22 million euro less than the first semester 2012. The difference is mainly due to the acquisition costs of new customers related to the commercial result in the period.
FASTWEB’s commercial result has also been achieved thanks to its continuous investments. In September 2012 the Company launched a major expansion plan for its fibre optic network: works are already in an advanced phase and the new ultrabroadband services have started to be offered in the cities of Pisa, Livorno, Varese, Verona, Brescia and Monza.
Spending on fibre optic network expansion pushed up capital expenditure by 28 million or 12,3% to 256 million euro.
“Today FASTWEB is courageously investing in its growth in spite of a quite complex market scenario” declared Alberto Calcagno, FASTWEB’s Ceo. “Our financial figures show that Italian families and companies are responding to our effort in the way we wished they would. In year 2000 we were the first provider to offer fibre optic connections in Italy. Today we still support that vision and we are now extending our fibre optic network to 5,5 million of households and enterprises. We receive daily requests from citizens and local administrations to be included in FASTWEB’s ultrabroadband plan. The steady growth of our customers’ base is a proof of our Country’s need for this enabling technology.”