World VoIP NewsForthNets losses grow despite LLU progressForthNets losses grow despite LLU progress

ForthNets losses grow despite LLU progress

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Greek telecoms and pay-TV operator Forthnet has posted a 72.8% increase in consolidated revenues to EUR377.0 million (USD517 million) in 2009, rising from EUR218.2 million 2008.
Reported EBITDA for the group increased ten-fold from EUR6.5 million in 2008 to EU64.0 million, although annual net losses rose slightly, from EUR40.9 million to EUR41.2 million. For the twelve-month period ForthNet’s telecoms division reported revenues of EUR176.6 million, representing a 21.1% increase over the previous year, and posted positive EBITDA of EUR18.3 million, but a net loss of EUR14.6 million.

Services based on local loop unbundling (LLU) remained the key telecoms growth driver for the group, and in the fourth quarter of 2009 ForthNet added 41,694 net new LLU customers (including those migrating from its resale services) for a total of 315,533, which it claimed gave it a 32% share of the Greek LLU market. Overall, it added 30,692 net new broadband subscribers in Q4 2009 for a total of 364,419. In late August 2009 the telco’s first bundles of telecoms and pay-TV services (from DTT unit Nova) were offered to new and existing customers.

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