Cablenet helps boost GO sales in 2016

22 Feb 2017

Maltese fixed and mobile operator GO has reported a 19.4% rise in EBITDA for full-year 2016 to EUR61.6 million (USD66.1 million). Revenues increased by EUR33.3 million to EUR157.0 million, while pre-tax profit stood at EUR28.1 million. The positive performance was attributed largely to the first-time inclusion of GO’s 51% subsidiary in Cyprus, Cablenet, which was consolidated in the group’s results from January 2016. Domestic telecoms revenues were up 3.4% year-on-year to EUR127.9 million, while triple-play TV, internet and telephony provider Cablenet generated sales of EUR29.1 million. Meanwhile, GO says its fibre-to-the-home (FTTH) networks in Malta now cover some 40,000 households.

GO’s Chairman, Nizar Bouguila, said: ‘It is abundantly clear that GO’s underlying performance in both Malta and Cyprus in 2016 was strong, more so when taking into account the regulatory and competitive pressures present in both markets … GO will maintain its investments in 4G and accelerate the rollout of FTTH. Cablenet will also continue with its investment programme, which is focused on extending the reach of its network.’

Cyprus, Malta, Cablenet (Cyprus), GO