ForthNet’s bundled package users increase 46.5% in a year

30 Aug 2013

Greece’s largest alternative fixed line operator ForthNet has reported its financial and operational results for the first half of 2013, in which it said revenues fell by 6.6% year-on-year to EUR193.12 million (USD256.48 million), while adjusted 6M EBITDA decreased by 21.6% y-o-y to EUR34.18 million as retail ARPU declined due to the country’s prevailing poor macroeconomic conditions. On the plus-side, at the end of June 2013 ForthNet served more than 204,000 bundled/’3play’ multi-service package subscribing households – a 46.5% increase compared to H1 2012, an increase largely attributed to the launch of ‘NOVA 3play’ (satellite TV bundled with fixed telephony and broadband) in the first half of 2013. ForthNet also claimed that its market share of net customer additions in the Greek local loop unbundling (LLU) voice/broadband service operator segment reached 36.8% during January-June 2013. Total subscriptions to all ForthNet’s services stood at 970,757 at 30 June 2013, up by 14.4% from 848,596 at mid-2012, while unique households subscribing to its services climbed by 8.1% in the same period to 766,207 (up from 709,003). Households with bundled services rose from 139,593 to 204,550 in the twelve-month span, while total ‘broadband subscribers’ (LLU and resale including voice-only) increased by 15.4% from 517,951 in June 2012 to 597,708 one year later. Satellite pay-TV customers reached 373,049 at mid-2013 (up from 330,645, a 12.8% y-o-y increase). According to ForthNet’s CEO Panos Papadopoulos: ‘In an unfavourable macroeconomic environment that reduces the disposable income of consumers and leads to a contraction of business revenue, the company’s strategy is to diversify by opening new markets. The successful launch of our new service Nova 3Play combined with the strategic advantage of the exclusive content of Nova, creates a new market that has significant growth potential for the company. The dynamics of this new market is reflected in the significant increase in the subscriber base in the first half of 2013.’

Greece, Forthnet (Nova)