Kabel Deutschland posts 6.3% rise in FY 2011/12 revenue

14 Jun 2012

German cable network operator Kabel Deutschland has announced its consolidated financial results for the fiscal year ended 31 March 2012, reporting a 6.3% increase in revenues to EUR1.699 billion (USD2.1 billion), within the lower end of its revenue growth guidance of 6.25%-6.75%. Growth was mainly driven by a 16.2% rise in ‘Internet and Phone’ revenues to EUR541.4 million, while Pay TV turnover increased 2.2% year-on-year to EUR1.158 million. Fourth-quarter revenues meanwhile rose 8.5% year-on-year to EUR442.4 million from EUR407.8 million in Q4 2010/11. Kabel Deutschland said that adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in the 2011/2012 fiscal year grew 9.1% year-on-year to EUR795.5 million, roughly in the middle of the EBITDA guidance of EUR790-EUR800 million, while adjusted EBITDA for the three months ended 31 March 2012 totalled EUR205.6 million, an increase of EUR188.7 million from the year-ago quarter. The company posted an annual net profit of EUR159.4 million compared to a net loss of EUR45.3 million in the previous fiscal year.

At 31 March 2012 Kabel Deutschland reported a total of 13.45 million revenue generating units (RGUs), up 5.9% year-on-year, with growth driven by strong demand for new premium TV, internet and telephony services. These services accounted for 4.747 million of total RGUs (up from 3.821 million a year earlier). The number of internet RGUs reached 1.518 million at the end of March 2012, compared to 1.26 million a year earlier, while telephony RGUs grew from 1.296 million to 1.549 million over the same period. Premium TV RGUs totalled 1.68 million at 31 March 2012, an increase of 33% year-on-year. Over the reporting period, Kabel Deutschland extended the market reach of its DOCSIS 3.0 high speed internet products to 76.9% of its upgraded footprint, up from 47%.

For the 2012/2013 fiscal year, Kabel Deutschland expects annual revenue growth of between 7.5% and 8.5% and forecasts adjusted EBITDA in the range of EUR855-EUR870 million. The outlook is on a standalone basis without considering Tele Columbus, which Kabel Deutschland agreed to purchase last month for EUR603 million plus accrued interest.

Germany, Kabel Deutschland