Wanadoo eyes ‘profitable performance’ for 2003
Wanadoo - a subsidiary of France Telecom - is on target to register a profit next year, Europe's second largest ISP reported today.
The French ISP reported that revenues topped €2.07bn for 2002 - up 33 per cent on last year.
Revenues for Q4 2002 reached €629m - up 35 per cent on Q4 2001.
This performance was bolstered by a 66 per cent leap in access revenues leading Wanadoo chairman and CEO, Olivier Sichel, to comment: "Continued sustained growth in all our businesses should enable Wanadoo to turn in profitable performance throughout 2003."
This financial growth is matched by a growth in Wanadoo's customer base, which increased by 2.5m over the year.
It now has 8.5m Internet access customers in Europe - including 1.4m broadband punters.
Wanadoo's UK business - Freeserve - notched up 2.57m customers at the end of December.
Looking ahead Wanadoo is predicting an increase in revenues of between 25-30 per cent for 2003.
The ISP is due to publish its full results at the end of February 2002.
Last week Wanadoo denied reports it was due to axe around 150 jobs as part of cost cutting measures.