KDG sees strong 1H revenue, EBITDA growth

16 Nov 2010

German cable operator Kabel Deutschland (KDG) has announced its results for the first half of its fiscal year 2010/11, reporting revenues of EUR785.8 million (USD1.07 billion) in the six months ended 30 September, representing an increase of 6.8% year-on-year. The company’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the period rose 10.4% compared to the year-ago period, to reach EUR355.2 million, while the net loss improved from EUR26.9 million in the first half of the cableco’s 2009/10 fiscal year to EUR7.8 million twelve months later. KDG invested a total of EUR140.1 million in the six month period, down from EUR152.5 million a year earlier. The cableco attributed its improved results to a rise in customers, which at 30 September 2010 totalled 8.846 million, of which 1.210 million were internet and telephony subscribers, up from 967,000 a year earlier. Commenting on the results, Adrian von Hammerstein, CEO of KDG, said: ‘Our financial figures indicate we are staying on course for growth and seamlessly following through on the positive trend. High demand for powerful, attractively priced products remains our most important growth driver, particularly in the area of internet, phone, and our premium TV business offerings.’

Germany, Kabel Deutschland