Kabel BW 1H pre-tax profit triples on increased sales

10 Aug 2010

German regional cable operator Kabel BW has reported pre-tax profit of EUR39 million (USD51.7 million) for the six months ended 30 June 2010, up from EUR11 million in the same period a year earlier on the back of an increase in revenue, operating profit and lower interest payments. Turnover based on the unaudited half-yearly accounts increased by 14% year-on-year to EUR269 million, compared to EUR236 million in 1H09, while the company said earnings before interest, tax, depreciation and amortisation (EBITDA) rose 22% from EUR122 million in the first six months of 2009 to EUR149 million a year later. Revenue was boosted by a strong rise in the number of broadband internet and telephony subscribers, which grew 33% year-on-year from 444,000 at 30 June 2009 to 590,000 a year later, representing around 26% of the company’s total cable subscriber base of 2.3 million. Investment in the first half of 2010 totalled EUR64 million, relatively stable compared to EUR63 million in the same period of 2009.

Germany, Kabel BW