Tiscali remains in the red

Oh well

By Tim Richardson, 13th November 2002

Sardinia-based ISP Tiscali remains in the red despite posting a modest improvement in figures.

Earlier this year the pan-European ISP was cock-a-hoop when it reported that it had scraped into the black for Q1. However, those giddy times were short-lived as the ISP plunged back into the red during Q2.

Today, it has published its results for the three months to September and reports that revenues slipped in at €179.9m, 4.3 per cent ahead of the previous quarter but 5 per cent lower than Q3 2001.

Revenues from Internet access - which account for two thirds of Tiscali's revenues - remained flat in Q3 at €121.7 million.

Portal revenues hit €9.4m, up 23 per cent on the previous quarter despite continuing problems with the advertising market. The ISP also saw an increase in revenue from its B2B operation.

Losses before interest, taxation etc (LBITDA) fell to €3.6m, down 62 per cent compared to Q2.

Tiscali claims today's results "bear out the validity of the company’s business model" and confirm the company as a "leading European internet services provider".

With around 125,000 ADSL users in Europe at the end of September, Tiscali believes the roll-out of its broadband products in UK, France, Germany is "satisfactory".

The number of broadband subscribers is growing by around 8,000 a week and it predicts it will have around 220,000 by the end of the year.

No country break-down of broadband subscriber numbers was available at the time of writing. ®

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