The Group achieved its key operating and financial targets for FY2004:
- Revenues totalled EUR 266.6 million, 16% higher than in the fourth quarterof 2003 on a comparable* basis and 4% ahead, on a comparable basis, QoQ. This advance took full-year revenues to EUR 1,075.3 million, equivalent to a 23% increase on FY03
- EBITDA totalled EUR 33.4 million, or 13% of revenues, 16% ahead, on a comparable basis, of the fourth-quarter 2003 figure and 35% ahead, on a comparable basis, QoQ. Full-year EBITDA totalled EUR 107.3 million (10% of revenues) 36% ahead, on a comparable basis, of the prior-year figure
- EUR 7.9 million free cash flow. Strong improvement of net financial position (+72.8 million EUR in the quarter) resulting from implementation of the first steps of the strategic and financial plan
- The Group closed the year with 1.65 million ADSL users, of which 330,000 were using unbundled services
- Proceeds in excess of EUR 170 million have been raised by the sale ofnon-core group assets and by the EUR 50 million capital increase concluded in December. The business and financial plan will be approved by mid March.
*ยท All % comparisons are presented on a comparable basis, i.e. assuming the same consolidation perimeter
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