Altice 2Q17 revenues up 2.7% to EUR6bn

28 Jul 2017

Netherlands-based Altice Group has reported standalone revenues of EUR6.0 billion (USD7.0 billion) for the three months ending 30 June 2017, up 2.7% on an annualised basis. The lion’s share of second-quarter sales were generated by the company’s SFR unit in France, which reported a headline figure of EUR2.8 billion (down 0.4% year-on-year), comfortably ahead of the Altice USA unit (comprising Cablevision and Suddenlink), which generated EUR2.1 billion in 2Q17 (+5.8% y-o-y). Standalone adjusted EBITDA in Q2 increased 6.9% on a twelve-month basis, meanwhile, to reach EUR2.4 billion, driven by the strong growth of Altice USA.

In operational terms, Altice Group said its consolidated mobile user base stood at 29.950 million at the end of the second quarter, the bulk of which (14.551 million) were in France. The group also reported that its total number of fibre/cable RGUs reached 20.071 million, while DSL/non-fibre RGUs stood at 12.697 million at end-June 2017.

Michel Combes, CEO of Altice Group, commented: ‘Our progress in the second quarter of 2017 shows the Altice vision of convergence really taking shape … In France, we continue to significantly improve the quality of SFR’s mobile network, including reaching our 2017 target for 90% 4G population coverage six months early, supporting reduced churn and new customer growth. We are continuously expanding our content offers, as well as focusing on improving customer service and accelerating our fibre deployment in new areas to support a further improvement in our fixed business trends … Altice USA continues to grow at an accelerated pace with further margin expansion as we continue to execute on our efficiency targets. We have also successfully executed on the initial public offering (IPO) of Altice USA which has provided us with a great platform for the next phase of growth. Lastly in Portugal, we are continuing with MEO’s accelerated nationwide fibre deployment, as well as diversifying more into the media segment with the announcement of the acquisition of Media Capital, just as we have done very successfully with our media acquisitions in France.’