Feeds

Tiscali sales, losses balloon

Management is happy

  • alert
  • submit to reddit

Security and trust: The backbone of doing business over the internet

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. ®

New hybrid storage solutions

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
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?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.