Spain's Jazztel beats 2013 estimates, fibre rollout on target

MADRID Wed Feb 26, 2014 12:10pm EST

MADRID Feb 26 (Reuters) - Spanish telecoms group Jazztel on Wednesday posted a 9 percent rise in annual profit to 67.6 million euros ($92 million), beating a 63.3-million-euro forecast in a Reuters poll.

The Madrid-based firm said its earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 184 million euros, up 7 percent, also beating forecasts.

Jazztel, Spain's fourth-biggest telecoms operator and often cited by analysts as a possible takeover target for larger Spanish and European competitors, said it had now connected 1.2 million homes to its 'Fibre To The Home' (FTTH) network.

It targets connecting 3 million homes by the end of 2014.

Jazztel's optic fibre deals, launched in October, had attracted 6,468 clients at the end of 2013. The company said close to 10,000 new contracts for this service had been signed every month in 2014 so far. ($1 = 0.7317 euros) (Reporting by Julien Toyer; Editing by Sonya Dowsett)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.