Fastweb revenues up 3.1% in Q3, adds 123000 customers YoY
Italian broadband operator Fastweb, a Swisscom subsidiary, reported third quarter net revenues of EUR 437 million, up 3.1 percent year on year due above all to customer growth, which helped offset a 3 percent decline in average revenue per residential broadband customer. The company’s EBITDA soared by 21.0 percent year-on-year to EUR 490 million, thanks in part to a EUR 55 million out-of-court settlement, with its profit margin also improving by 1.5 percentage points to 33.0 percent. The improved EBITDA was also due to substantially higher revenue from residential customers, which rose by 3.2 percent year-on-year to 225 million in the July to September period.
Capital expenditure for the third quarter was up 16.1 percent to EUR 144 million from EUR 124 a year earlier as a result of the company’s continuing broadband network expansion.
In terms of customer numbers, Fastweb said it responded to fierce competition in the sector by adding 123,000 broadband customers since Q3 2015 to reach a base of 2.3 million on 30 September, up 6 percent year on year.
The company’s mobile customer base was also up, by 23 percent, to 601,000 on 30 September, with Fastweb aiming to finally launch its 4G services in January.