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FastWeb Reports Q3 Prelims

MILAN, Italy -- FASTWEB (Milan, MTAX: FWB), Italy's second wireline telecommunications operator, announced preliminary consolidated results for the third quarter 2006 which show further growth of all key operating parameters. FASTWEB reported 957,300 customers as at 30 September 2006, an increase of 83,000 subscribers in the third quarter (+80% compared to the 46,000 net additions in the equivalent period 2005).

Despite the July-September period was impacted by low seasonality, the third quarter 2006 recorded the strongest growth ever, a result that confirms the growth trend of prior quarters and that signals the positive reaction of the market to the new residential offer introduced in September 2006.

FASTWEB’s consolidated revenues amounted to over 893 million Euro in the first nine months 2006, marking a year on year increase of approximately 31% that is fully in line with the 30% growth target set for 2006. Revenues amounted to over 315 million Euro in the third quarter, an increase of 22% compared to 258.5 million Euro last year. Sequential growth was equal to +9%.

EBITDA in the nine months was equal to over 296 million Euro, marking a 42% increase compared to the corresponding period 2005. Such increase, that is in line with the full year target of over 40% EBITDA growth, resulted in a significant margin improvement. In particular, margin was approximately at 33% in the nine months 2006, versus 30,6% in the corresponding period 2005.

Third quarter 2006 EBITDA amounted to over 113 million Euro, a 40% increase compared to 80.9 million Euro in the corresponding period 2005.

Fastweb SpA (Milan: FWB)

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