Netia cuts losses and increases sales by 100% in first half

Netia announced its financial results for the first half of 2000 and they are impressive. Netia losses amounted to zl. 278 million which is zl. 10 million more or a 4% increase compared to last year. Sales increased by 100% to zl. 200 million and the EBITDA (earnings before interest, taxes, depreciation and amortization) of the telecom operator jumped by 180% and now stands at zl. 13.1 million. By the end of June Netia had 286,300 subscribers leaving its competitors, with about 60,000 users, far behind. The penetration rate of corporate clients increased by 22.1% compared to last year and the average revenues from users amounted to zl. 107 per month increasing by nearly 40%. Netia plans to enter the Warsaw market very aggressively over the next few months. Total investments of Netia amount to zl. 2.1 billion. (Puls Biznesu, page 1, 3)