Tiscali 2001 Annual Report Download - page 18
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10
LETTER TO SHAREHOLDERS
Dear Shareholders,
2001 was a very important year for the growth of the Tiscali Group. The process of
structural changes of the Company allowed us to gain and consolidate a position of
leadership in the European Internet market.
We began in 1998 as a small telecommunications Company, which believed strongly that
the advent of the Internet would radically change the way in which we communicate, work
and interact with the world around us.
With these convictions in mind, and following our stock market listing in October 1999, we
believed that our market should not be limited to Italy but should extend to the whole of
Europe. This principle guided us in our courageous strategy, which saw us acquire over 20
Companies across Europe between 2000 and 2001. This strategy has given us a significant
presence throughout the continent.
At the end of 2001, Tiscali had a share of approximately 16% of the European Internet
market, with 7.3mn active users and a solid presence in 15 countries; figures which confirm
that Tiscali is the only Internet Company with a truly pan-European market strategy. This
allows us to capitalise on the opportunities thrown up by evolving European monetary and
economic union, and to exploit, as no other Company has, the enormous wealth of
different cultures which have led to the creation of the Company as it is today.
Therefore, 2001 was a year of extraordinary operations that required the commitment of
both management and employees. It has been a long and difficult process, aimed at
integrating our new acquisitions, to create a single entity capable of competing with the
Internet divisions of the major international telecoms Companies. This process has
confirmed Tiscali as an independent Company able to take a leading role in consolidating
the enormous potential of this sector.
We believe that we have been successful in meeting this challenge because in its current
state, Tiscali is a single Company, with a single technology, a single brand and a single
organisation. Its business model, which seamlessly integrates access, content distribution
and business services, has proved profitable and has provided significant growth
opportunities.