Italian telecoms operator Fastweb SpA (FWB.MI) said Tuesday its net profit rose in 2009 as corporate customers boosted revenue growth.

It also forecast revenue and earnings before interest, tax, depreciation and amortization, or Ebitda, to grow about 5% in 2010 and to post positive cash flow on annual basis.

The Milan-based broadband operator, which was acquired by Swisscom AG (SCMN.VX) in 2007, said it posted a full-year net profit of EUR36million million, up from a EUR1.1 million a year earlier.

Fastweb said 2009 revenue rose 8.5% to EUR1.85 million from EUR1.71 million a year ago, beating the company's 5% growth target, as its base of business clients grew 11% to over 1.6 million.

Italy's second-largest telecoms operator by market value after Telecom Italia SpA (TI) said full-year Ebitda rose over 6% to EUR551 million from EUR518 million a year ago.

On a conference call after the results, Chief Executive Stefano Parisi said that the company could look at acquisition opportunities if they arise, but he said that Tiscali SpA (TIS.MI) isn't on the radar.

At 1050 GMT, Fastweb shares were up 0.7% at EUR17.10.

Swisscom reports full-year earnings Thursday.

-By Sabrina Cohen, Marco Fusi with MF-Dow Jones and Giada Zampano, Dow Jones Newswires; +39 02 5821 9906; giada.zampano@dowjones.com
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