Belgian full-service telecoms provider Telenet has reported total revenue of EUR2.58 billion (USD2.82 billion) for the twelve months ended 31 December 2019, an increase of 2% from EUR2.53 billion the previous year. The growth was driven mainly by higher handset sales during Q4 2019 and the impact of the Nextel and De Vijver Media acquisitions. Annual net profit declined 6% to EUR234.6 million as a result of higher net finance expenses, offsetting a 15% year-on-year increase in operating profit to EUR685.5 million. Adjusted EBITDA stood at EUR1.37 billion, a rise of 4% y-o-y on a reported basis, while the group’s adjusted EBITDA margin remained broadly stable in 2019 at 53.2% (52.2% in 2018).
At 31 December 2019 Telenet reported a total of 2.808 million mobile telephone subscribers, an increase of 5% on the previous year, which included an 8% rise in post-paid customers to 2.363 million. The group also served 4.743 million fixed services RGUs, consisting of 1.664 million broadband customers (1.657 million in 2018), 1.212 million fixed line telephony subscribers (down 3% year-on-year) and 1.866 million TV customers (down 4%). The number of households with fixed-mobile services rose by 37% to 547,400 customers, representing around 26% of total customer relationships.