Feeds

Wanadoo UK loses €30m

Easily done

  • alert
  • submit to reddit

Bridging the IT gap between rising business demands and ageing tools

Wanadoo UK (Freeserve) lost around €30 million last year as cost-cutting measures designed to eat away at last year's loss began to bite.

Last year Wanadoo UK, as Freeserve's parent company insists on calling it and thus fuelling speculation that the company is planning to ditch its Freeserve brand, lost €92 million.

This year, that figure has fallen to a deficit of somewhere around €30 million.

Despite this, Wanadoo UK is displaying a certain joie de vivre after reporting that it broke even in the second half of the year.

Said Wanadoo in a statement: "Wanadoo UK (Freeserve) cut its full-year loss in operating income before amortization and depreciation to less than a third of its previous level, while breaking even in the second half of 2003."

It prompted Olivier Sichel, chairman and CEO of Wanadoo, to say: "Wanadoo Spain and Wanadoo Netherlands broke even in operating income before amortization and depreciation, while Wanadoo UK exceeded its target, cutting its loss in operating income before amortization and depreciation by over two thirds."

Overall, Wanadoo reported an operating income of €250 million in 2003, compared to an operating loss of €6 million in 2002. Revenue for the group topped €2.6 billion in 2003.

Today's figures were widely trailed last week when Wanadoo UK revealed that it has 158,000 broadband users - an increase of 35,000 in the three months to the end of the year.

A senior Wanadoo UK spokesman explained that the ISP was planning to make a big push for broadband this year. "This is the year for broadband for us - we're going for it," he said. ®

Related Story

Freeserve gears up for major broadband push

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.