Telenet reports broadly stable revenues in 2020

11 Feb 2021

Belgian full-service telecom operator Telenet has reported total revenues of EUR2.575 billion (USD3.343 billion) for the twelve months ended 31 December 2020, broadly unchanged on a reported basis from EUR2.584 billion in full-year 2019. Adjusted EBITDA was also largely stable at EUR1.378 billion (2019: EUR1.375 billion), while annual net profit rose 44% year-on-year to EUR338.5 million, driven by significantly lower net finance expense in the period, lower income tax expense and a EUR27.5 million gain on the sale of its Luxembourg cable business.

At 31 December 2020 Telenet reported a total of 2.816 million mobile telephony subscribers, a slight rise from 2.808 million twelve months earlier, 1.697 million broadband customers (up 2% y-o-y), 1.172 million fixed line telephony subscribers (down 3%) and 1.812 million TV customers (3% lower). Fixed monthly ARPU reached EUR58.4 and EUR58.7 in 2020 and Q4 2020, respectively, up 1% y-o-y for both periods, driven by a higher share of multi-play and higher-tier broadband customers and the benefit of certain price adjustments.

Commenting on the results, Telenet CEO John Porter stated: ‘We were able to maintain a sound commercial momentum in the year-end quarter, illustrated by a solid operational performance and continued traction for our core products and services in the fourth quarter, again proving our resilience in light of the ongoing pandemic.’

Belgium, Telenet (incl. BASE)