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Altice sees pro forma revenues and EBITDA fall in FY 2014

5 Mar 2015

Luxembourg-based telecoms investment group Altice SA has announced its financial results for full-year 2014, with consolidated pro forma revenue falling 4.6% year-on-year to EUR13.46 billion (USD14.99 billion). The firm said that revenues in its main market of France dropped 5.0% on a pro forma basis to EUR11.44 billion, while its international operations in Belgium, Luxembourg, Portugal, Israel, the Dominican Republic and the French Overseas Territories (FOT) brought in a further EUR2.03 billion, which was an annualised fall of 2.1%. Pro forma consolidated EBITDA fell 6.3% to EUR4.01 billion, while the EBITDA margin decreased 0.5% to 29.8%. CAPEX for the year jumped 16.5% to EUR2.33 billion, with the group investing heavily in 4G and fibre rollouts in France.

The firm says it is pushing ahead with a cost-cutting plan, and expects to achieve additional synergies in France where its Numericable unit completed the acquisition of SFR in November; last month it agreed a EUR3.9 billion deal to purchase Vivendi’s 20% stake in the enlarged Numericable-SFR. Meanwhile, it is also forging ahead with a deal to expand its Portuguese operations via the acquisition of Portugal Telecom.

On an operational basis, the group claimed 2.88 million cable customers at the end of 2014, down from 2.94 million a year earlier, including 1.32 million cable customers in France and 1.06 million in Israel. 2014 ended with 1.82 million triple-play subscribers, up from 1.70 million at end-2013. In the mobile segment, SFR’s French user base declined by 799,000 over the year to reach 16.24 million by 31 December 2014, while the international operations had 4.92 million cellular subscribers at the same date, up from 4.80 million twelve months before.

Belgium, Dominican Republic, France, Israel, Luxembourg, Portugal, Altice International, Next Alt

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