Altice Group EBITDA up 8.5% to EUR383m

8 Aug 2014

Luxembourg-based, Amsterdam-listed telecoms group Altice has released its second-quarter results for its operations spread across France (Numericable, 74.6%-owned), Israel (HOT Telecommunications), Belgium and Luxembourg (Numericable branches), Portugal (Cabovisao and Oni Communications), Dominican Republic (Orange and Tricom) and Outremer Telecom (Guadeloupe, Martinique, French Guiana, Reunion and Mayotte). Consolidated revenue reached EUR837 million (USD1.119 billion) in Q2 2014, down 1.3% year-on-year, consisting of EUR502 million international revenue (down 3.8%) and EUR335 million France turnover (up 2.8%). Total EBITDA was up 8.5% to EUR383 million, consisting of EUR225 million international EBITDA (up 13%) and EUR158 million France EBITDA (up 2.7%). Highlights in the quarter included: French customer growth driving 2.4% cable revenue growth at Numericable, and strong triple-play, high speed broadband and 3G mobile subscriber growth at HOT in Israel (which also reported slowing cable customer losses), while the Israeli firm also reported that cost restructuring drove 14% EBITDA growth. In the Dominican Republic the group saw 7% mobile and 8% cable customer growth in Q2 with cost synergies driving a 6.9% increase in EBITDA margin. In French Overseas Territories (Outremer) Altice posted 10% post-paid mobile customer growth, 5.1% mobile ARPU growth, and EBITDA growth of 24%, again attributed to cost savings/synergies.

The Altice group has grown rapidly lately, making acquisitions including:

July 2013 – Outremer Telecom in the French Overseas Territories;

August 2013 – ONI in Portugal;

January 2014 – ISP Mobius in the French Overseas Territories;

March 2014 – Tricom in the Dominican Republic;

April 2014 – Orange Dominicana in the Dominican Republic.

Altice/Numericable recently signed merger agreements for SFR and Virgin Mobile in France, and it reported that the regulatory process for the acquisitions is ‘on schedule and proceeding as expected’.

France, Luxembourg, Altice Europe (formerly Altice Group)