Italian broadband Internet access provider e.Biscom has unveiled a new 3-year business plan, which will see it break even at the net level in 2005. It plans to boost its customer base around threefold by 2006, and to post a net profit and pay dividends from 2006. e.Biscom provides broadband access to homes and businesses in 10 Italian cities and towns. Net profit is forecast to reach over EUR 100 million in 2006, after breaking even after tax in 2005. The company, founded in 1999, considers its start-up period to be ended, with targets originally set for 2010 brought forward to 2006. Some of the EUR 250 million raised from the sale of HanseNet (Germany) to Telecom Italia will be used to finance expansion NE and southern Italy in 2004 and 2005. Revenue is expected to grow 30% per year to reach EUR 1.1 billion by 2006, when EBITDA will be over EUR 500 million. It is now targeting revenue of over EUR 2 billion, EBITDA of over EUR 1 billion and over 1.5 million subscribers in 2010. e.Biscom has posted a net loss of EUR 54.8 million for Q3-2003, compared to a EUR 67.9 million loss a year earlier, on sales up 73.6% to EUR 148.4 million. It posted positive Q3 EBITDA of EUR 35 million, compared to a EUR 3.3 million loss in Q3-2002.
