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ITI reports improved nine-month results

2007-11-25

ITI Group reported consolidated nine-month revenues up 33.1% over the same period in 2006 to 318.6 million euros, driven by the performance of TVN Group.

EBITDA (earnings before interest, taxes, depreciation and amortisation) rose 36.7% to 93.6 million euros on established activities, and 12.4% to 43.4 million euros reflecting activities under development - namely the launch of the digital platform "n."

"N" has gained 200,000 subscribers since its launch one year ago.

TVN Group, which includes the private broadcaster TVN and Grupa Onet, reported a 29.4% rise in revenue, ITI said in a statement Nov. 23.

In related news, both Standard and Poor's and Moody's ratings services have raised TVN's long-term credit rating to ‘BB'/'Ba2' from ‘BB-‘/'Ba3'.

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