'Fastweb posts Q3 revenues up 4.5%'

Italian broadband operator Fastweb closed the third quarter with revenues of EUR 446.1 million, up 4.5 percent over the same period in 2008. Net income rose to EUR 12.6 million, from a loss of EUR 1.8 million a year ago, while EBITDA increased by 9 percent to EUR 139.4 million. Cash flow was a positive EUR 26 million for the first nine months of the year, and capital expenditure for the January-September period was EUR 312.4 million, down 5 percent from the year-earlier period. The company had 1.605 million customers on 30 September, up 8 percent on the end of 2008. Fastweb estimates it won market share in the period as the overall Italian market grew by 7 percent. The company's new mobile services had 160,000 users at the end of September, up from 30,000 at the start of the year. Over 40 percent were postpaid users, and over 70 percent were existing fixed-line customers. Fastweb said it was confident of meeting its full-year growth targets, for revenues of around EUR 1.8 billion and EBITDA of EUR 560 million.

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Related terms: bandwidth, ebitda, market, market share