KDG exceeds annual guidance

27 May 2009

German cable operator Kabel Deutschland (KDG) has posted its fiscal results for the year ended 31 March 2009, recording a 14.5% rise in revenue to EUR1.37 billion (USD1.91 billion). The company announced a record increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to EUR570.7 million, up 24.7% compared with the 2007/08 fiscal year, exceeding the cableco’s guidance of EUR565 million. At 31 March 2009, KDG’s network passed 15.3 million households, 78.5% of which are upgraded for triple-play services. Total RGUs at the same date totalled 11.6 million. Telephone and internet subscriptions saw the biggest year-on-year rise, almost doubling to 1.417 million, of which 707,500 were broadband internet customers and the remaining 710,300 telephony users. Subscribers to KDG’s ‘Abo-TV’ digital telephone offering increased by 70,700 to reach 849,200, while analogue TV customers grew by 40,000 year-on-year to 8.14 million, but decreased 16,400 during the fiscal fourth quarter. The average number of services taken by a customer increased to 1.27 compared to 1.19 in the previous year.

KDG also announced that on 21 May 2009 it settled the outstanding purchase price adjustment with rival cableco Tele Columbus on the 1.1 million cable subscribers it acquired on 30 April 2008. The original purchase price was reduced by EUR67.5 million.

Germany, Kabel Deutschland