Netia reports a net loss of PLN 10m in H1 2011

2011-08-12



Netia, a leading Polish alternative fixed-line operator, ended H1 2011 with a net loss of PLN 10.1m (€2.5m), despite showing a net profit of PLN 12.9m (€3.2m) in Q2 2011. The result is a PLN 40m year-on-year decline from a net profit of PLN 29.9m (€7.3m) in H1 2010.

The company recorded revenues of PLN 797.5m (€195.4m) in H1 2011, increasing values by 2% from results noted in H1 2010. Nevertheless, Q2 2011 brought the operator a revenue decline of 1% year-on-year, which amounted to PLN 396.2m (€97.1m).

The company’s adjusted EBITDA (with a margin at 24.4% in H1 2011 against 23.9% in H1 2010) increased to PLN 194.4m (€47.6m) in H1 2011, up by 4% from H1 2010.

Netia’s broadband subscriber base reached 719,595 on 30 June 2011, growing by 2% quarter on quarter and 15% year on year. Among different broadband technologies offered by the company, LLU showed the highest extension in the number of ports over the course of 2010.

Netia’s voice subscriber base accounted for 1,202,122 at the end of Q2 2011. This was an increase from Q1 2010, with 1,176,226 customers registered, but a decrease from Q1 2011, with 1,212,072 subscribers. The number of lines of LLU Voice over IP grew from 43,210 in Q2 2010 to 106,698 in Q2 2011.

Number of broadband ports by different technologies used by Netia, Q2 2010–Q2 2011

	Q2 2010	Q2 2011
xDSL and FastEthernet over Netia’s own fixed-line network	206,154	229,955
WiMAX Internet	18,826	18,034
LLU	73,101	159,260
Bitstream Access	325,289	312,238
Others	207	108
Total	623,577	719,595

Source: Netia, 2011

Number of voice lines by type of access offered by Netia, Q2 2010-Q2 2011

	Q2 2010	Q2 2011
Netia network subscriber voice lines	387,768	373,148
Traditional direct voice	342,975	322,583
Voice over IP (excl. LLU)	23,459	32,133
WiMAX voice	21,334	18,432
WLR	745,248	722,316
LLU Voice over IP	43,210	106,698
Total	1,176,226	1,202,162

Source: Netia, 2011