Feeds

Tiscali sales, losses balloon

Management is happy

  • alert
  • submit to reddit

The essential guide to IT transformation

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. ®

5 things you didn’t know about cloud backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
prev story

Whitepapers

Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
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.
Backing up distributed data
Eliminating the redundant use of bandwidth and storage capacity and application consolidation in the modern data center.
The essential guide to IT transformation
ServiceNow discusses three IT transformations that can help CIOs automate IT services to transform IT and the enterprise
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.