Wanadoo reaps benefit of broadband boom

Wanadoo SA has reported preliminary figures that say revenue rose 33% to 2bn euros ($2.1bn) in 2002. Europe's second largest internet service provider predicted growth of 25% to 30% in 2003 when it expects to generate positive free cash flow from operations. CEO Olivier Sichel said: "Continued sustained growth in all our businesses should turn in profitable performance throughout 2003."

Driven by soaring demand for broadband services, internet access revenue rose 83% to 1bn euros ($1.06bn). The 1.4 million broadband subscribers at the end of the year represented 16% of Wanadoo’s 8.5 million-strong customer base, compared with 9% a year earlier.

However, a dearth of online advertising led to a modest 1% growth in portal revenue to 117m euros ($124m), while a boom in Christmas sales enabled the e-merchant business to record a 39% increase in revenue to 235m euros ($249.1m). On the directories and business services side, revenue rose 4% to 880m euros ($932.8m). France Telecom SA unit Wanadoo said it expects to release full results at the end of February.

Source: Computerwire

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