ONO Q3 losses widen

16 Dec 2005

Spanish cable operator ONO reported net losses of EUR10.6 million (USD12.7 million) for the three months to 30 September, up from EUR1.2 million a year earlier. However, the results did not include the performance of fixed line and cableco Auna, which ONO acquired this year for EUR2.25 billion to strengthen its challenge to Spain’s dominant operator Telefónica. ONO said that third quarter revenues rose 18% to EUR147.4 million, while EBITDA climbed 36% to EUR64.8 million. ONO reported having 880,000 subscribers at the end of the period under review, up 14.5% year-on-year. The operator also disclosed pro forma results for the combined ONO/Auna operation for the first nine months of the year, saying EBITDA would reach EUR340 million on turnover of EUR1.3 billion.

Spain, Grupo Corporativo ONO