Despite 2000 losses of zl.362 mn, Netia still optimistic

Netia, Poland's second largest telecom operator, recorded a net loss of zl.362 million on revenues of zl.442 million last year, significantly improving over 1999 and surpassing market expectations. The company's spokeswoman Jolanta Ciesielska said its losses are a result of heavy investments in a nationwide data transmission network. The network is meant to service data transmission and long-distance services, which Netia has yet to begin offering. It has also not yet started offering local services in Warsaw, Poland's most lucrative market. Investors welcomed the company's positive Ebitda-based results of zl.23.2, while in 1999 it posted a loss of zl.15.4 million. Netia boosted revenues by 78% thanks to a surge in subscribers from 251,000 to 321,000, with the number of corporate clients growing from 51,000 to 81,000. Netia also offers the second most popular telephone Internet connection, after Telekomunikacja Polska S.A., with 36,500 registered users. According to Credit Suisse First Boston (CSFB) analysts, the company's results exceeded market expectations. CSFB itself forecast Netia's 2000 loss at zl.550 million. (Prawo i Gospodarka, p.17, Puls Biznesu, p.10)