Stock exchange : Completel Europe in strong decrease after a profit warning

Completel Europe was falling on Wednesday August 8th at the marketplace of Paris (-17.50% at 1.00 pm) after they made a profit warning. In the morning, the Internet and telecom services operator for companies, a company which has set up an optical fiber loop in Nice and Sophia Antipolis, has announced a net loss of 50.5 million euros for the second quarter 2001. The group is experiencing a slowdown in hosting demands. Such a slowdown has compelled the company to review expectations for 2001.

The group expected a turnover of 120 to 135 million euros for this year. They have been reviewed downwards to 110 to 120 million euros. Completel has thus decreased investments and has engaged reorganization expenses up to 3.7 million euros. Still, here are some good news. Set up in nine French cities and five German cities, the company has got positive operative incomes in another city: Paris which, after Lyon, has become profitable.