Troubled Swedish IPTV operator FastTV has published its long awaited financial statements, simultaneously releasing results for 2008 and the first quarter of 2009.
The figures for 2008 show a sustained loss of SEK 39.846 million (€3.671m) compared to SEK 33.579m in 2007. However, the picture improved going into the first quarter with losses narrowing to SEK 604,000 on sales of SEK 12.770m.
Since the beginning of the year FastTV has been working on a new B2B model, effectively wholesaling its offer and allowing operators to set their own price. The strategy allows operators, including landlords, to develop their own triple play offer through taking FastTV’s internet and IP telephony proposition.
FastTV was the first operator in Sweden to provide HD content, and plans to add more HD channels and an expanded VOD offer in the near future.
Following the publication of the delayed reports electronic trading house AktieTorget AB has decided to resume the trading in the stock.
