Operator results - N51

Level3 (USA) reported 4Q04 revenues of $1bn, up 25% qoq, of which $482m in communications and $ 547m in information services. Net loss was $77m vs. $171m in 3Q04.

FastWeb (Italy) posted 2004 revenues of € 720m, up 58% proforma, EBITDA of $ 219m (up 120%). FastWeb has about 500,000 customers, of which 73000 businesses (accounting for 56% of revenues) and 423,000 residential customers (accounting for 44% of revenues).

Eircom (Ireland) posted 4Q04 results of €402m (of which access revenues rose 16% and voice revenues dropped 8%) in revenues; a net loss of € 62m (vs. profit of € 23m). EBITDA rose 2% to € 155m.

Bouygues Telecom (France) posted 2004 revenues of € 3.66bn, up 12%.

BT‘s turnover in 4Q04 increased 3% to £4.6bn, but new wave revenues were up 35% to £1.1bn. EBITDA was £545m, up 4%. BT had £ 770m in capex in the quarter.

FT reported sales of € 47bn, up 4% proforma, with Orange (mobile) turnover increasing more than 10%, and fixed-line revenues were almost flat. EBITDA was €18.3bn, up 7.4%, and operating income was €10.8bn, up 12.4%. FT targets 2005 capex/sales ratio at upper end of 10-12% range, down from 12% in 2004.

Equant announced 2004 results: $2.9bn in revenues (down 1%), gross profit down 26% to $681m, operating loss of $375m, and net loss of $ 274m.

Telstra posted 1H FY results of $1.8bn in net income (up 2%) on revenues of $8.8bn (up 5%). Fixed-line revenues fell 2% to $3.1bn, while mobile revenues were up 9% to $1.47bn.

Rostelecom (Russia) reported 1H FY revenues of $ 639m (up 33%), EBITDA of $ 233m (up 16%) and net income of $ 86m (up 200%).

TPSA (Poland) posted 2004 revenues of about $ 6bn, up 1.5% (with $3.6bn in fixed-line, down 8%, $1.6bn in mobile, up 28% and $0.6bn in data and broadband). Net income rose 200% to $ 719m.

Matav (Hungary) reported a net income decline of 40% to $ 189m in 2004.