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Kabel BW posts 11% rise in 9M revenue

11 Nov 2011

German cable operator Kabel BW has announced it generated revenue of EUR456.4 million (USD619 million) in the first nine months of 2011, an increase of 10.8% compared to the EUR411.9 million reported in the year-ago period. The Baden-Wurttemberg-based company said adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for 9M 2011 rose 15.3% year-on-year to EUR268.1 million. At 30 September 2011 the company had a total internet and telephony subscriber base of 779,000, up 25% from 624,000 twelve months previously, while the number of pay-TV revenue generating units (RGUs) grew by 94,000 over the period from 259,000 to 353,000, with growth mainly driven by its ‘Mein TV’ offering. Monthly average revenue per user (ARPU) increased from EUR17.8 the third quarter 2010 to EUR19.3 in the same period a year later. In March 2011 Swedish investment firm EQT agreed to sell Kabel BW to US cable company Liberty Global, beating bids from CVC and Hallman & Friedman with an offer of EUR3.16 billion. Liberty Global already owns the country’s second largest cableco by subscribers Unitymedia. Germany’s antitrust agency, the Federal Cartel Office (FCO), is due to make its final decision on whether to approve the deal by 15 December 2011.

Germany, Kabel BW

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