Feeds

Wanadoo makes a profit

Freeserve makes larger loss

  • alert
  • submit to reddit

High performance access to file storage

French ISP Wanadoo has notched up a profit a year ahead of forecasts.

Publishing its full-year results today, the company reported a net income of 30m euros, compared to a net loss of 193m euros in 2001.

Earnings before interest etc (EBITDA) rolled in at 90m euros compared to an EBITDA loss of 64m euros the year before.

Total revenues jumped from 1.56bn euros in 2001 to 2.07bn euros last year.

Wanadoo chairman and chief exec, Olivier Sichel, said that the results "reflect the successful efforts to spur innovation and build profitable performance that Wanadoo has pursued over the past years".

Indeed, that certainly appears so for Wanadoo's ISP operation in France, which saw an EBITDA loss of 120m euros in 2001 turned into a 7m euro EBITDA profit in 2002.

Spain also managed to cut its EBITDA loss from 60 million euros in 2001 to 55 million euros in 2002. Losses also narrowed in Wanadoo's operation in The Netherlands, Belgium and Morocco.

In the UK, though, Wanadoo's Freeserve racked up increased losses of 92m euros in 2002 from 74m euros the year before.

Clarifying the numbers, Wanadoo said that Freeserve's EBITDA loss went from 76 per cent of revenues in 2001 to 38 percent of revenues in 2002.

Despite this improvement, Wanadoo is still taking action to cut its losses in the UK.

In a statement it said: "In view of a regulatory environment in the country that is unfavourable to ISPs competing with the incumbent carrier, Wanadoo has initiated a programme aimed at enhancing income performance to cut its losses in the UK market, based on better control of network and customer service costs, as well as diversification of distribution channels."

No one at Freeserve or Wanadoo was available at the time of writing to explain exactly what this might mean.

However, as well as speculation that Freeserve could be sold, last week it sneaked out a £1 a month price rise that will take effect from March 25 for its Freeserve AnyTime product (it'll now be £14.99). ®

Related Stories

Freeserve denies it's gone cold on BB
Freeserve for sale? - report

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.