Italian broadband operator Tiscali SpA (TIS.MI) said Monday it is targeting a net profit of EUR16 million in 2013, under a new 2009-2013 business plan which focuses on consolidating its market position in Italy and reaching one million clients by 2013.

The Sardinia-based company launched a EUR180 million capital increase, starting Monday, to boost its financial structure after reaching a debt renegotiation deal with its key lenders and selling its U.K. activities.

The broadband operator said Monday it has targeted reducing its closely watched net debt to EUR180 million by the end of 2013, from EUR415.8 million as of Aug. 31.

It sees revenue at about EUR300 million in 2009, reaching EUR370 million in 2013. Adjusted earnings before interests, taxes, depreciation and amortization, or Ebitda, are seen at about EUR70 million in 2009, reaching about EUR90 million in 2009.

-By Giada Zampano, Dow Jones Newswires; +39 06 6976 6920; giada.zampano@dowjones.com
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