{
    "title": "First Half 2012 Results Telenet",
    "modified_at": "2012-07-26 19:45:00",
    "published_at": "2012-07-26 19:45:00",
    "url": "https://press.telenet.be/first-half-2012-results-telenet",
    "short_url": "http://prez.ly/yty",
    "culture": "en",
    "language": "EN",
    "slug": "first-half-2012-results-telenet",
    "body": "<p align=\"justify\" class=\"hugin\"><strong class=\"hugin\"></strong>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 GAAP\") for the six months ended June 30, 2012. </p> <p align=\"justify\" class=\"hugin\"><strong class=\"hugin\"> </strong></p> <p align=\"justify\" class=\"hugin\"><strong class=\"hugin\">HIGHLIGHTS</strong></p> <p align=\"justify\" class=\"hugin\"> </p> <ul class=\"hugin\" type=\"disc\"> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Revenue of \u0080727.0 million, up 9% yoy, driven by more multiple-play, digital TV and mobile RGUs. Q2 2012 revenue up 7% yoy, reflecting lower stand-alone handset sales due to iPhone 4S inventory shortages. Excluding low-margin revenue from hardware sales, revenue grew 8% yoy in H1 2012 and 7% yoy in Q2 2012; </div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Accelerated digitalization fueled by our digital TV migration campaign, contributing to 116,700 net additions to digital TV in H1 2012 (Q2 2012: +71,300); </div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Continued improvement in mobile thanks to the success of our new SIM-only rate plans. Our addition of 17,600 net new mobile postpaid subscribers in Q2 2012 was our best performance in two years' time;</div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Triple-play customers grew 9% yoy to 818,700 at June 30, 2012; now representing 38% of our customer base; </div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Adjusted EBITDA<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(1)</sup> of \u0080387.0 million, up 9% yoy, resulting in an underlying margin of 53.2%. Excluding non-recurring elements, our Adjusted EBITDA grew 8% yoy;</div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Net profit fell 57% yoy to \u008025.0 million as a result of a \u008038.0 million unrealized loss on derivative financial instruments, higher interest expenses and amortization charges linked to Belgian football broadcasting rights; </div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Accrued capital expenditures<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(2)</sup> totaled \u0080167.3 million, or 23% of revenue, driven by higher set-top box and success-based capital expenditures in line with the accelerated uptake of digital TV;</div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Free Cash Flow<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(3)</sup> decreased 15% yoy to \u0080117.4 million reflecting higher cash interest expenses and the final cash payment for the Belgian football broadcasting rights for the 2011/12 season;</div> </li> <li class=\"hugin\"> <div class=\"hugin\" style=\"\">Stable net leverage ratio<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(6)</sup> of 3.1x at June 30, 2012 despite \u0080113.4 million dividend payment in the course of Q2 2012 and continued share repurchases, reflecting the strong underlying cash generation of our business.</div> <div class=\"hugin\" style=\"\"><br class=\"hugin\" /></div> <div class=\"hugin\" style=\"\">Cfr. Press Release</div> </li> </ul>",
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    "tags": [
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        "1",
        "English",
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    "author": {
        "first_name": "Isabelle",
        "last_name": "Geeraerts"
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