Jazztel Reports Q3 672474

Revenue grew 32% to €115.5 million during the third quarter of 2009 compared to the same period for the previous year

November 12, 2009

2 Min Read

MADRID -- Jazztel, PLC. (Mercado Continuo in Spain: JAZ), a leading supplier of broadband communicationservices with its own network in Spain, reported its earnings today for the third quarter of 2009. Thefigures in this press release are unaudited, expressed in Euros, and were prepared in accordance withInternational Financial Reporting Standards.

Significant events

As of 29th October, JAZZTEL announced by various Relevant facts the exercise of 85,787,604 typeB Warrants and 23,735,497 type A Warrants and the issue of the corresponding 109,523,101shares, receiving total proceeds of 19,714,158 Euros.

On 13th October, JAZZTEL announced the early expiry of Warrants type B for November 16th oncefulfilled the stipulated conditions (JAZZTEL's share price equal or above 0,27€ for more than 20sessions within a period of 30 consecutive sessions). The early expiry affects 14,212,396Warrants type B, additional to the exercise of Warrants mentioned on the previous paragraph andfor which JAZZTEL will obtain a maximum of 2,558,231 Euros. After the early expiry of Type BWarrants, the balance of outstanding Warrants (all of them Type A) will be of 76,264,503.


The company’s ADSL subscriber base maintains its high growth rate both year on year andquarter on quarter:

− Contracted ADSL subscribers (active subscribers plus subscribers in the provisioning process)rose by 52,281 subscribers during the third quarter of 2009, placing the current base at529,122 subscribers. This increase represents a 53% growth in comparison to the sameperiod last year.

− The active ADSL subscriber base rose by 47,702 new subscribers during the quarter, totalling509,954 subscribers. This is a 56% increase compared to the same period last year. With thisresult, JAZZTEL reached in Q3 the higher end of its target range of 470,000-510,000 ADSLsubscribers for 2009, as published in the 2008-2010 Business Plan.

− Active single-invoice services (over fully unbundled local loop), which are key for theCompany, as they are provided over the company’s own network and generate the highestmargins, grew by 57,542 in the quarter, pushing the base to 516,066 services, whichrepresents a 13% rise over the previous quarter and a 70% increase over the same periodlast year. This rapid growth, has come from a major expansion of the company’s two maintypes of single-invoice services:

Active single-invoice ADSL services rose by 48,460 during the quarter, to a total base of457,937 services. The percentage of single-invoice ADSL subscribers rose to 90%,compared to 89% in the previous quarter and 85% at the end of the same period in2008.

Active “voice only” single-invoice services (flat rate voice service without ADSL over fullyunbundled local loop), grew by 9,082 new services, expanding the base to 58,129services during third quarter of 2009. This service, launched at the end of 2007 isbecoming an important part of the company’s subscriber base.

Jazztel plc

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