Feeds

Wanadoo losses widen

That's good news apparently

  • alert
  • submit to reddit

Reducing security risks from open source software

Wanadoo - the French Internet outfit which also owns Freeserve - reported increased losses today despite improved revenues for the first six months of the year.

It made a Net loss of E102 million in H1 2001,compared to E67 million during the same period last year.

Total revenues increased to E689 million from E456 million.

Some 45 per cent of revenues came from Internet access, portals, e-merchant and business services - up from 28 per cent during H1 last year, the company said. The rest came from its directories and business services operations.

In France, earnings before interest, tax etc (EBITDA) was E14 million compared to a loss of E29 million at the end of June 2000 thanks chiefly to improved profits in its Net access business.

EBITDA losses at Wanadoo's international operations - Freeserve in the UK and Spain's Indice Multimedia - more than doubled from E29 million in H1 2000 to E68 million for H1 2001.

In a statement Nicolas Dufourcq, Chairman and CEO of Wanadoo, said: "Wanadoo is now one of the most complete and solid Internet companies in Europe.

"Our results for the first half of 2001 confirm our position as a leading Internet media and services company, reflected in robust revenue growth.

"The profitable economic model for Internet access has clearly been confirmed by significantly lower acquisition and network costs, coupled with an increase in average revenue per user.

"We are also reaffirming our objective of achieving positive EBITDA in the fourth quarter of 2002," he said.

Wanadoo says it has five million punters and hopes to top ten million in 2003. ®

Eight steps to building an HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Bose says today IS F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.