Free announces stellar numbers, but why is FTTH capex so high?

Iliad, the mother company of the French ISP free.fr posted its financial results this morning. Based on these numbers you can only say: Man, there is a load of money in providing internet access. Free's business model is quite simple. You pay €30 and you get 28mbit/s unlimited access, with free calling to fixed lines in 70 countries, and HDTV and 70 tv-channels, and a personal tv-channel, Digital TV Recorder, remote access to stuff you recorded on your home DVR etc etc.

Ok, here are the numbers.

KPI	2005	2006	2007
ADSL Subscribers	1,595,000	2,278,000	2,904,000
Unbundling Ratio	70.2%	75.9%	81.5%
ARPU (at year end)	€32.2	€34.5	€36.3
Churn	= 1% / month	less than 1% month	much less than 1%

Column1	2006	2007	difference
Revenues	935.1	1 212,4	+29.7%
EBITDA	328.5	443.6	+35.0%
EBITDA Margin	35.1%	36.6%
EBIT	180.5	213.8	+20.4%
EBIT Margin	19.5%	17.6%
Net Income	120.6	150.2	+24.4%
Proposed Dividend	€0.27	€0.31	+14.8%

626,000 ADSL net adds in 2007 and 24% of all net adds in France.
€33.3 M of FTTH CapEx in 2007
€21.4 M of FTTH equipments & NROs under leasing agreements at year end
€1,500 CapEx per existing subscribers confirmed in Paris
2008 / 2009 CapEx between €300M - €400M

This last one surprises me a bit. The Capex per sub in Paris seems to be rather high. I have no clue where that comes from as it seemed that Paris would be cheaper than €500 per sub because of not having to dig.