Telenet exceeds 2Q expectations, increases targets for 2008

6 Aug 2008

Belgian triple-play provider Telenet has announced its financial results for the three months ended 30 June 2008, reporting an 11% rise in earnings before interest, tax, depreciation and amortisation (EBITDA) to EUR123.7 million (USD191.9 million). The rise has prompted the operator to raise its EBITDA growth guidance for the rest of the year to 8%-10%, up from its initial 6%-8% estimate. The operator reported net profits at EUR55.8 million, 58% down year-on-year; the drop was a result of a one-off tax benefit the operator received in the same period last year, which boosted profits at the time by EUR77.8 million. Telenet indicated that solid growth in all its core product lines was an important factor in the results, with the operator adding approximately 181,000 customers over the six month period ended 30 June 2008.

Belgium, Telenet (incl. BASE)