Telenet NV : First Half 2013 Results
Mechelen, July 30, 2013 - Telenet Group Holding NV ("Telenet" or the
"Company") (Euronext Brussels: TNET) announces its unaudited consolidated
results under International Financial Reporting Standards as adopted by the
European Union ("EU IFRS") for the six months ended June 30, 2013.
oRevenue of €813.6 million, up 12% yoy, driven by a growing contribution
from our mobile operations and continued RGU growth in fixed services. Our
top line growth showed a slight sequential acceleration in Q2 2013 to 12%
yoy as selective price increases on certain fixed services started to
contribute fully to revenue;
oNet broadband internet subscriber additions in Q2 2013 up 17% yoy despite
competitive environment and increased penetration in our footprint.
Improved multiple-play lineup post "Whop" and "Whoppa" launch;
oLower net intake of digital TV subscribers as last year's growth was
boosted by our analog channel reshuffle program. Net loss of 8,700 basic
cable TV subscribers in Q2 2013 reached lowest level since Q2 2008;
oContinued solid net mobile postpaid subscriber additions of 49,900 in Q2
2013, resulting in 674,900 active subscribers at the end of June 2013
amidst a more competitive environment and our focus on more cost effective
subscriber acquisitions. Our mobile ARPU jumped 15% yoy to nearly €32.0 in
oAdjusted EBITDA^(1) up 8% to €417.8 million. Adjusted EBITDA growth
accelerated to 11% yoy in Q2 2013, primarily driven by more cost effective
mobile subscriber acquisitions and overall control of overhead expenses;
oAccrued capital expenditures^(2) of €177.8 million, representing 22% of
revenue and benefiting from a €16.1 million reversal of import duties on
set-top boxes. Excluding this reversal, accrued capital expenditures
represented around 24% of revenue, impacted by extension of Premier League
football broadcasting rights;
oFree Cash Flow^(3) of €100.5 million, impacted by first semi-annual cash
interest payment on the Senior Secured Fixed Rate Notes issued in August
2012 and a negative trend in our working capital in Q1 2013, which was
partially reversed in Q2 2013. Sharp Free Cash Flow recovery in Q2 2013 to
€110.5 million, up 80% yoy.
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Source: Telenet NV via Thomson Reuters ONE
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