Fastweb
| In EUR million, except where indicated | 2021 | 2020 | Change | |||
|---|---|---|---|---|---|---|
| Net revenue and results | ||||||
| Residential Customers | 1,142 | 1,133 | 0.8% | |||
| Corporate Business | 979 | 907 | 7.9% | |||
| Wholesale | 263 | 257 | 2.3% | |||
| Revenue from external customers | 2,384 | 2,297 | 3.8% | |||
| Intersegment revenue | 8 | 7 | 14.3% | |||
| Net revenue | 2,392 | 2,304 | 3.8% | |||
| Segment expenses | (1,566) | (1,520) | 3.0% | |||
| Segment result before depreciation and amortisation (EBITDA) | 826 | 784 | 5.4% | |||
| Margin as % of net revenue | 34.5 | 34.0 | ||||
| Lease expense | (54) | (52) | 3.8% | |||
| Depreciation and amortisation | (590) | (577) | 2.3% | |||
| Segment result | 182 | 155 | 17.4% | |||
| Operating free cash flow proxy | ||||||
| Segment result before depreciation and amortisation (EBITDA) | 826 | 784 | 5.4% | |||
| Lease expense | (54) | (52) | 3.8% | |||
| EBITDA after lease expense (EBITDA AL) | 772 | 732 | 5.5% | |||
| Capital expenditure | (601) | (587) | 2.4% | |||
| Operating free cash flow proxy | 171 | 145 | 17.9% | |||
| Operational data in thousand and full-time equivalent employees | ||||||
| Broadband access lines | 2,750 | 2,747 | 0.1% | |||
| Mobile access lines | 2,472 | 1,961 | 26.1% | |||
| Headcount | 2,753 | 2,703 | 1.8% | |||
Fastweb’s net revenue rose by 3.8% or EUR 88 million year-on-year to EUR 2,392 million. Competition intensified in the broadband business. Fastweb’s customer growth weakened in the course of the year. The customer base remained almost unchanged year-on-year, at 2.75 million (+0.1%). The number of mobile access lines increased by 26.1% or 511,000 year-on-year to 2.47 million, despite stiff competition. Bundled offers continue to play an important role. 38% of broadband customers use a bundled offering combining fixed network and mobile. Residential customer revenue rose by 0.8% or EUR 9 million to EUR 1,142 million as a result of customer growth. Fastweb is also growing in the business customer market. Revenue from business customers was up by 7.9% or EUR 72 million to EUR 979 million, driven by higher revenue from public authorities. Revenue from wholesale business increased by 2.3% or EUR 6 million to EUR 263 million.
The segment result before depreciation and amortisation was 5.4% or EUR 42 million higher at EUR 826 million on the back of the growth in revenue. Capital expenditure increased by 2.4% or EUR 14 million to EUR 601 million as a result of higher customer-driven investments and higher investments in the mobile network infrastructure. Fastweb’s headcount increased by 1.8% or 50 FTEs to 2,753 FTEs as the company’s growth created a need for more personnel.