Altice Europe reports growth in revenues, EBITDA in 2Q19

1 Aug 2019

Netherlands-based multinational telecoms group Altice Europe – created after Altice NV (also known as Altice Group) decided to spin off its Altice USA business and rename its core business (effective 8 June 2018) – has reported consolidated revenues of EUR3.592 billion (USD4 billion) for the three months ended 30 June 2019, up 3.8% year-on-year from EUR3.460 billion in 2Q18. Adjusted EBITDA, meanwhile, grew from EUR1.306 billion to EUR1.434 billion in the period under review, representing a 9.8% annual improvement. Accrued CAPEX, meanwhile, marginally decreased to EUR756 million in 2Q19 (EUR773 million in the year-ago period).

Altice Europe highlighted that it has revised its FY 2019 guidance, with it now expecting to achieve operating cash flow growth of around 15% year-on-year (10% previously, excluding Altice TV segment). In FY 2019, Altice France is expected to deliver revenue growth of between 5% and 6% y-o-y (3%-5% previously) with an adjusted EBITDA of between EUR4.1 billion to EUR4.2 billion (EUR4.0 billion-EUR4.1 billion).

In operational terms, Altice Europe ended 30 June with a total of 26.037 million mobile B2C subscribers across France (including the French Overseas Territories [FOT]), Portugal, Israel and the Dominican Republic, alongside 9.148 million unique fixed line B2C customers. France remains Altice’s leading market in terms of subscribers, with 15.444 million mobile B2C users and 6.271 million fixed B2C accounts. In Portugal, the company had 6.327 million mobile B2C and 1.586 million fixed B2C subscribers, while the Israel unit ended the quarter with 1.326 million (mobile B2C) and 999,000 (fixed B2C) subscribers.

Patrick Drahi, founder of Altice Europe, commented: ‘The turnaround of Altice Europe is more and more evident with another key milestone in Q2 2019: residential revenue as well as total revenue in France is back to growth. Consistent with Q1 2019 results, we demonstrate in Q2 2019 our capacity to benefit from decreasing churn and call centres volumes to generate significant savings. Altice France and Altice International are accelerating their revenue growth, with stronger EBITDA growth, paving the way for an acceleration of the deleveraging, already noticeable. This successful operational turnaround allows us to increase our full year guidance.’

Netherlands, Altice Europe (formerly Altice Group)