Feeds

Tiscali sales, losses balloon

Management is happy

  • alert
  • submit to reddit

Intelligent flash storage arrays

Tiscali today reported sharply higher losses and much higher costs on much bigger sales in 2001. The company also wrote down acquisitions paid for by shares to the tune of EUR815m. This saw net equity at the end of 2001 reduced to EUR 1.150bn, against EUR 2.24bn in 2000.

Add on some other exceptional items and operating losses of EUR –307.6m, and the European ISP giant comes in with a net loss of EUR 1.664bn for 2001 (2000: -EUR 181.4m).

Revenues for the year were EUR 635.7m, 267% higher than 2000 (EUR 173.1m). The company attributes growth to increased traffic and user numbers, achieved organically and through acquisition.

Tiscali's board characterises 2001 as a crucial year for the company, which saw it integrate its acquisitions, increase market share and consolidate its client base. The introduction of centralised management and a single network infrastructure has generated "considerable synergies and economies of scale", the company says.

Tiscalis claims it is the market leader for Internet acccess in Europe, with a "considerable" presence in all major markets and 16 per cent of retail users - 7.3m - on its books. This aggregates to 10.4bn minutes of Internet traffic in Q4, 2001. Which is nice. It sounds like an awful lot of minutes too, but it kinda needs some comparison with - say - Wanadoo and AOL Europe - to make this meaningful.

Tiscali also reports that 14.7m uniques visited its portal, making it "the leading European web property".

All very well. The company has had its year of kitchen sink accounting. This year, it's time to start making a profit. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.