Italian operator Tiscali said its board of directors approved the new 2021-2024 strategic plan aimed at boosting the company's annual revenues by 40 percent to more than EUR 200 million over the next 3 years. The Sardinia-based operator also has plans to grow its customer base, reduce churn and cut network costs thanks to various agreements, resulting in a 100 percent increase in EBITDA by 2024 as well as positive net profit as early as 2023.
Tiscali said it intends to continue accessing Fastweb and Open Fiber networks to increase the nationwide footprint of its fixed line offer and expand the scope of FWA services in digital divide areas together with Fastweb and Linkem. The company previously responded to regulatory concerns by announcing that it will sign a new co-investment contract with Telecom Italia (TIM) that removes any link between plans for reorganising its network and its co-investment initiative in TIM’s FiberCop venture.
Finally, Tiscali also confirmed an agreement with investment firm Nice & Green for the issue of up to EUR 21 million in convertible bonds in several tranches to cope with its liquidity needs and fund its industrial plan.
