Cost savings help push up EBITDA at Altice

18 Nov 2014

The Luxembourg-based telecoms investment group Altice has reported revenues of EUR832.3 million (USD1.04 billion) for its third quarter to 30 September 2014, down 0.3% year-on-year. While sales at its French cable TV operation Numericable rose 3.0% to EUR328.6 million, there was a 2.3% drop in earnings from the group’s other operations, which include Belgium, Luxembourg, Portugal, the Dominican Republic, Israel and the French Overseas Territories (including Guadeloupe, Martinique, French Guiana, Reunion and Mayotte). The firm said cost saving measures – particularly in Israel and the Dominican Republic – helped drive EBITDA up 12% to EUR396.2 million.

The group’s cable operations claimed 6.67 million revenue generating units (RGUs) at the end of September, up from 6.56 million a year earlier, including 2.10 million broadband subscriptions and 2.08 million voice telephony accounts. Altice also had 209,000 DSL-based broadband subscribers in France, the Dominican Republic and the French Overseas Territories at the same date. Meanwhile, its mobile operations in France, Israel, the Dominican Republic and the French Overseas Territories accounted for 4.93 million customers at end-September, up from 4.79 million at 3Q13.

Altice says it expects to complete its EUR13.5 billion takeover of the French telco SFR by the end of the year; the new unit will be 60%-owned by Altice and will be integrated with the existing Numericable operations. Meanwhile, the group has made a fully financed binding offer for the domestic assets of Portugal Telecom (PT), though it is facing competing bids from a number of other players.

Dominican Republic, France, Israel, Altice Dominicana (formerly Orange), Altice Europe (formerly Altice Group), Altice France (SFR), HOT Mobile, Tricom