SFR reports improved revenue growth trend in 9M14

14 Nov 2014

French media group Vivendi, which accepted a takeover offer for its domestic telecoms unit SFR from cable group Numericable in April 2014, has published SFR’s financial results for the nine months ended 30 September 2014, reporting a 2.9% decrease year-on-year in revenues to EUR7.396 billion (USD9.21 billion), down from EUR7.616 billion in 9M13. The company noted, however, that despite the decrease, the latest results showcase a slowdown of revenue erosion, with an improved growth trend in 9M14 when compared to the 4.2% decline in the corresponding period of 2013. EBITDA, meanwhile, dipped to EUR1.779 million, a 19.2% decrease on the EUR2.201 million reported in the nine months to September 2013. However, EBITDA was down by 10.3% if non-recurring items (EUR196 million litigations expenses in Q2 and Q3 2014) are excluded.

In operational terms, SFR’s total mobile customer base reached 21.414 million subscribers by 30 September 2014, with a total of 11.315 million post-paid subscribers at that date, equivalent to 270,000 net additions in the twelve months to 30 September 2014. Mobile internet usage also improved, with 69.3% of SFR customers equipped with a smartphone at end-September 2014, compared to 58.4% a year earlier. The number of fixed broadband accesses reached 5.217 million in September, up 1% y-o-y, while fibre-to-the-home (FTTH) subscribers increased by 44.5% to 249,000.

France, SFR