Feeds

Easynet passes EBITDA milestone

Ups revenues, narrows losses

  • alert
  • submit to reddit

5 things you didn’t know about cloud backup

Continued demand for high-speed Internet services helped broadband operator Easynet boost revenues last year and notch up an important first for the company.

It claims its "successful" investment programme in local loop unbundling (LLU) has enabled it to supply genuinely alternative broadband services to those provided by dominant telco BT.

Publishing prelims for the last year, Easynet reported that it had installed its kit in 68 BT local exchanges during 2003, bringing its total to 149. Earlier this year it confirmed it would invest in a further 80 exchanges during 2004.

At the end of 2003 Easynet had connected a shade under 4000 business customers through its local loops.

The average revenue Easynet gets from these business punters rose from £1800 in 2002 to £2474 by the end of 2003.

As a result, revenues for the full year were up 27 per cent to £116m compared to £91.5m in 2002.

The company also slashed its EBITDA loss by 75 per cent from £22.6m in 2002 to £5.7m last year.

Operating loss from all operations after exceptional items was £15.1m, down from a loss of £73.3m in 2002.

Easynet's important "first" is that the company was EBITDA positive in December 2003. Looking ahead, Easynet is confident of turning cash-flow positive during 2005.

In a statement, chairman Keith Todd said: "This set of results represents another milestone for the Company, as the Group turned EBITDA positive as a whole in December 2003.

"This was an important year in the development of our strategy, as we enhanced our position in the corporate data communications market and continued our successful roll-out of LLU in the UK."

By late morning shares in Easynet were up 4p (2.7 per cent) to 150.5p. ®

Related Story

Easynet to unbundle 80 exchanges in '04

Gartner critical capabilities for enterprise endpoint backup

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
So, Apple won't sell cheap kit? Prepare the iOS garden wall WRECKING BALL
It can throw the low cost race if it looks to the cloud
EE accused of silencing customer gripes on social media pages
Hello. HELLO. Can EVERYTHING EVERYWHERE HEAR ME?!
Time Warner Cable customers SQUEAL as US network goes offline
A rude awakening: North Americans greeted with outage drama
Shoot-em-up: Sony Online Entertainment hit by 'large scale DDoS attack'
Games disrupted as firm struggles to control network
BT customers face broadband and landline price hikes
Poor punters won't be affected, telecoms giant claims
Broadband slow and expensive? Blame Telstra says CloudFlare
Won't peer, will gouge for Internet transit
prev story

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
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?