Telenet lowers sales forecast

31 Aug 2006

Belgium’s biggest cable operator Telenet has cut its full year 2006 sale forecast after the soccer World Cup failed to lift digital TV second quarter revenues as high as expected. The company’s sales in the three months ended 30 June 2006 rose 10.8% to EUR201.2 million (USD258.3 million), more than EUR2 million short of the median forecast from a Reuters poll of analysts, leading Telenet to lower full year sales growth to 10%-11%, down from an earlier forecast of 10%-15%. On a brighter note, the company reported better-than-expected EBITDA of EUR93.7 million and said EBITDA margin could reach 45% for the full year. Telenet ended June with 669,000 broadband customers, of which 199,000 were triple-play subscribers, up 25% year-on-year.

Belgium, Telenet (incl. BASE)