Kabel BW posts healthy rise in Q1 revenue, EBITDA

27 May 2011

German cable operator Kabel BW has announced it generated revenue of EUR150.2 million (USD212 million) in the first quarter of 2011, representing an increase of 13% compared to EUR132.9 million in the corresponding period a year earlier. The company said that earnings before interest, tax, depreciation and amortisation (EBITDA) for the three-month period totalled EUR87.1 million, up 16% year-on-year, while EBITDA margin improved to 58% from 56.4% in the first three months of 2010. Kabel BW saw EBIT rise 6.6% over the period, from EUR43.3 million in Q1 2010 to EUR49.8 million in the same three-month period a year later. In March 2011 Kabel BW’s parent, Swedish investment firm EQT agreed to sell the cableco to US cable company Liberty Global, beating bids from CVC and Hallman & Friedman with an offer of EUR3.16 billion. There may be significant anti-trust hurdles facing the deal, which is expected to bring together Germany’s second and third largest cable operators by customers. At 31 March 2011 the company had a total subscriber base of 2.368 million (compared to 2.316 million twelve months previously), of which 705,000 were internet and telephony customers, up 26.3% from 558,000 at the same date in 2010. Meanwhile, the number of pay-TV subscriptions grew by 98,000 over the twelve-month period from 210,000 to 308,000. The average revenue per customer per month (ARPU) increased from EUR17.1 to EUR18.8 in Q1 2011.

Germany, Kabel BW