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Last Updated: Tuesday, 13 May, 2003, 06:54 GMT 07:54 UK
T-Online edges into profit
T-Online workers
T-Online, Germany's biggest internet service provider, is back in profit, helped by an increase in the number of broadband customers.

The company's earnings before tax, investment and one-off costs amounted to 76m euros ($87.4m; 54.4m) in the first three months of 2003, up from a 14.5m euro loss in the same period of last year.

Pre-tax profits at the firm, majority-owned by Deutsche Telecom, edged into the black too with a 2m euro profit after a 92m euro loss in 2002 on sales up 22% to 445m euros.

The company said the growing popularity of broadband connections and economies of scale were improving its profitability, and losses at operations outside Germany were falling.

Rivals

T-Online has come a long way from the dot.com bust.

Together with its French rival Wanadoo - a unit of France Telecom - it has managed a consistently above par performance in recent months.

Shares in the two companies have risen by more than a quarter since the start of 2003.

In both cases, the performance of the subsidiary has eclipsed that of the parent.


SEE ALSO:
Telekom sells T-Online shares
02 Dec 02  |  Business
Deutsche Telekom details job cuts
02 Oct 02  |  Business
Deutsche Telekom boss quits
16 Jul 02  |  Business


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