Telenet reports ‘robust operational performance’ in Q3 2020

29 Oct 2020

Belgian full-service telecom operator Telenet has reported ‘robust operational performance’ in the three months ending 30 September 2020, despite posting a 2% year-on-year decline in revenues to EUR637.9 million (USD749.9 million) resulting from the impact of the acquisition of De Vijver Media and the divestment of its former Luxembourg cable business SFR-Coditel. Without these effects, revenue would have been 1% lower than the corresponding period of 2019, due to significantly lower other revenue following the effects of the COVID-19 pandemic. Q3 2020 adjusted EBITDA fell 5% year-on-year on a reported basis to EUR343.1 million, reflecting higher sales and marketing expenses as a result of increased commercial activity. Net profit, meanwhile, increased 30% in the quarter to EUR113.2 million, driven by significantly lower net finance and income tax expenses and asset disposals.

At 30 September 2020 Telenet reported a total of 2.822 million mobile telephone subscribers, an increase of 2% on the same period of 2019, 1.687 million broadband customers (up 2% y-o-y), 1.185 fixed line telephony subscribers (down 3%) and 1.823 million TV customers (3% lower). The company highlighted continued growth in FMC customers to 621,300 at end-September, a 22% increase y-o-y and representing a full convergence rate of 32%, which helped drive 21,700 net mobile post-paid additions in Q3 2020. A higher share of multi-play and higher-tier broadband customers, as well as certain price adjustments, resulted in 2% y-o-y growth in fixed ARPU per customer relationship to EUR58.3 in the first nine months of the year.

Belgium, Telenet (incl. BASE)