Mobile services help boost Telenet’s revenue in 1Q13

26 Apr 2013

Belgian cableco Telenet has released its financial results for the first three months of 2013, with the operator posting an 11% year-on-year increase in revenues, saying that such growth had been ‘driven by a growing contribution from [its] mobile operations and continued RGU growth in fixed services’. In the quarter ended 31 March 2013 Telenet generated turnover of EUR405.6 million (USD535 million), up from EUR364.0 million in 1Q12, with the cableco noting that its mobile virtual network operator (MVNO) services had contributed EUR35.1 million to top line growth. Further, it said that in the fixed line arena revenue growth was partly attributed to the ongoing migration from analogue to digital TV and the continued upgrading of its existing broadband customer base to its ‘Fibernet’ products, which it said had resulted in a higher value per customer. Adjusted EBITDA in the quarter under review stood at EUR201.5 million, up 5% against the corresponding quarter in 2012, impacted by seasonally higher costs associated with handset sales and subsidies. Operating profit in 1Q13 meanwhile was EUR102.0 million, up from EUR92.7 million a year earlier, while net profit surged by 215% to EUR38.4 million.

In operational terms, at the end of March 2013 Telenet reported a broadband subscriber base of 1.409 million, up 6% against the 1.326 million it had at March 2012. Customers signed up to the operator’s mobile voice services meanwhile numbered 625,000, more than double the 257,800 such subscribers it had at end-March 2012. Fixed voice accesses totalled 987,700, representing a 9% y-o-y increase.

Belgium, Telenet (incl. BASE)