PrimaCom 1H14 revenues up 40%

17 Nov 2014

German cable network operator PrimaCom has announced it generated revenue of EUR65.9 million (USD82.5 million) for the six months ended 30 June 2014, an increase of 39.7% year-on-year, while EBITDA rose 54.2% to EUR27.0 million. Growth was driven by increased penetration of triple-play services across the firm’s network and the acquisition of smaller rival DTK Deutsche Telekabel, which was completed in April. Excluding the impact of the DTK acquisition, revenues grew by 6.2% to EUR50.1 million and EBITDA rose 14.1% year-on-year to EUR20.0 million. PrimaCom revealed that customer numbers for triple-play packages of broadband internet, HD television and fixed line telephony grew by 27.5% year-on-year during the period. The DTK acquisition expanded the number of reachable households by 30% to approximately 1.2 million and reinforced PrimaCom’s proposition to commercial housing and real estate customers; integration of DTK is scheduled to be completed in December.

‘Our first half performance underlines the significant progress made by PrimaCom over the past three years, as our investment in our own state-of-the-art IP capable network has transformed our growth trajectory,’ commented Primacom CEO Joachim Grendel, adding: ‘Creating an integrated Level 3 / Level 4 provider is driving growth of higher value triple-play services, while ensuring that the business has the technological capability to meet customer needs far into the future. More than 80% of our EBITDA and cash flow now comes from the backbone-connected part of our business a level consistent with that achieved by the two largest players in our market and significantly ahead of other peers. We believe that the quality of our infrastructure represents both an enduring competitive advantage and a significant differentiator for our business.’

Germany, PrimaCom