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Annual Report 2019
Annual Report 2019
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Fastweb

In EUR million, except where indicated   2019   2018   Change
Residential Cus­tomers   1,104   1,050   5.1%
Corporate Business   862   780   10.5%
Wholesale   245   267   –8.2%
Revenue from external cus­tomers   2,211   2,097   5.4%
Intersegment revenue   7   7   0.0%
Net revenue   2,218   2,104   5.4%
Segment expenses   (1,468)   (1,408)   4.3%
Segment result before de­pre­ci­a­tion and amor­ti­sa­tion (EBITDA)   750   696   7.8%
Margin as % of net revenue   33.8   33.1    
Lease expense   (50)   (23) 1   117.4%
De­pre­ci­a­tion   (560)   (509)   10.0%
Segment result   140   164   –14.6%
             
Capital ex­pen­di­ture   599   657   –8.8%
Full-time equivalent employees at end of year (number)   2,456   2,484   –1.1%
Broad­band access lines at end of period in thousand   2,637   2,547   3.5%
Mobile access lines at end of period in thousand   1,806   1,432   26.1%
1 Includes expenses for operating and finance leases in accordance with IAS 17.

Fastweb’s net revenue rose by EUR 114 million or 5.4% year-on-year to EUR 2,218 million. Despite difficult market conditions, Fastweb’s broad­band customer base grew year-on-year by 90,000 or 3.5% to around 2.64 million. Fastweb is also growing in the fiercely com­pet­i­tive mobile tele­phony market. The number of mobile access lines increased by 374,000 or 26.1% year-on-year to 1.81 million. The focus is increasingly on bundled offerings. Around 34% of subscribers already use a bundled offering combining a fixed broad­band line and a mobile access line. Residential customer revenue rose by EUR 54 million or 5.1% to EUR 1,104 million as a result of customer growth. Fastweb held its strong position in the market for business cus­tomers, with revenue from business cus­tomers up by EUR 82 million or 10.5% to EUR 862 million as a result of higher revenue with public administrations. Revenue from wholesale business, by contrast, decreased by EUR 22 million or 8.2% to EUR 245 million.

The segment result before de­pre­ci­a­tion and amor­ti­sa­tion increased by EUR 54 million or 7.8% to EUR 750 million, or by 5.2% on an adjusted basis, on the back of the growth in revenue. Capital ex­pen­di­ture decreased year-on-year by EUR 58 million or 8.8% to EUR 599 million. The previous year’s figure includes expenses for the acquisition and extension of mobile radio fre­quen­cies in the amount of EUR 64 million. The investment volume remains at a high level overall, driven by the further expansion of the broad­band networks. Fastweb’s headcount was practically unchanged year-on-year at 2,456 FTEs.