WARSAW -- Netia Holdings (NASDAQ: NTIAQ; WSE: NET), Poland's largest alternative provider of fixed-line telecommunications services, today announced unaudited financial results for the first quarter of 2002. Financial Highlights: -- Revenues for Q1 2002 amounted to PLN 146.6m (US$35.5m), a year-on-year increase of 19%.
-- EBITDA for Q1 2002 amounted to PLN 30.1m (US$7.3m), a year-on-year increase of 99%. EBITDA margin for Q1 2002 reached 20.5%.
-- Cash at March 31, 2002 amounted to PLN 389.2m (US$94.2m), excluding restricted investments of PLN 49.1m (US$11.9m).
-- Consolidated shareholders' equity at the end of Q1 2002 was negative PLN 588.7m or US$142.5m. Kjell-Ove Blom, Acting CEO and Chief Operating Officer commented: "Our cost savings and increased efficiency program is producing results and has contributed to our EBITDA growth and margin year-on-year. Netia also continues its track record of innovation with new product launches such as IN services and introduction of the first integrated CRM system of any Polish operator, which will contribute to future operational efficiency and customer service improvements." Netia Holdings SA