ONO reports revenue growth in first quarter of 2013 despite macroeconomic pressures

9 May 2013

Spanish cableco Grupo Corporativo ONO has published its financial results for the three months ended 31 March 2013, revealing a 4.1% year-on-year increase in turnover to EUR398 million (USD525.6 million). Revenues from residential services continue to account for the lion’s share of the total, standing at EUR281 million in the first quarter of 2013, though this was down by 3.9% compared to the same period a year earlier. The decline, the operator said, was mainly the result of the country’s macroeconomic environment, with customers seeking to spend less on non-essential items. In contrast, revenues from ONO’s business services surged by 29.4% to EUR116 million, with turnover from its wholesale services notably increasing by 75.7% y-o-y. EBITDA in the three-month period, meanwhile, totalled EUR179 million, representing a 4.0% decline against 1Q12, although normalised EBITDA – which includes a non-cash adjustment related to the release of contract provisions linked to ONO’s acquisition of Auna – fell by 1.1%, to EUR177 million.

In operational terms, at the end of March 2013 ONO reported a total subscriber base of 1.928 million, with those customers between them taking a total of 4.821 million fixed and mobile services. Residential broadband accesses at the end of the period under review numbered 1.409 million, down from 1.428 million a year earlier, while residential fixed voice connections dropped from 1.697 million to 1.647 million. Mobile customer numbers (including both voice and broadband, and both residential and SME subscribers) rose to 557,000 at the end of March 2013, up from 201,000 a year earlier.

Spain, Grupo Corporativo ONO