{
    "title": "First Half 2014 Results",
    "modified_at": "2014-07-31 09:00:00",
    "published_at": "2014-07-31 09:00:00",
    "url": "https://press.telenet.be/first-half-2014-results",
    "short_url": "http://prez.ly/spy",
    "culture": "en",
    "language": "EN",
    "slug": "first-half-2014-results",
    "body": "<p align=\"justify\" class=\"hugin\"><strong class=\"hugin\">Multiple-play strategy and focus on great customer experience drove further churn improvement;</strong></p> <p align=\"justify\" class=\"hugin\"><strong class=\"hugin\">- </strong><strong class=\"hugin\">Confident to achieve 5-6% Adjusted EBITDA growth for the full year despite softer revenue outlook, reflecting substantially lower revenue from standalone handset sales and lower analog carriage fees;</strong></p> <p align=\"justify\" class=\"hugin\"><strong class=\"hugin\">- </strong><strong class=\"hugin\">Board of directors will decide on shareholder remuneration towards the end of Q3 2014.</strong></p> <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 IFRS\") for the six months ended June 30, 2014.</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\">17,900 net triple-play subscriber additions in Q2 2014, representing best Q2 achievement since 2009, resulting in nearly 1 million triple-play subscribers (+12% yoy), or around 48% of our customer base;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Improved mobile line-up, including launch of \"King Supersize\" and free 4G access, drove sequential acceleration in net mobile postpaid additions in Q2 2014 to 820,800 subscribers (+41,000 qoq);</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Continued investment into enriched product features for existing customers, resulting in sustained improvement in annualized churn across all our fixed products, reaching lowest level in four years' time;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Revenue of \u0080838.8 million in H1 2014, up 3% yoy, impacted by substantially lower standalone handset sales and lower analog carriage fees. Slight sequential revenue pick-up in Q2 2014 to \u0080422.0 million, up 3% yoy;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Adjusted EBITDA<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(1)</sup> of \u0080460.1 million in H1 2014, up 10% yoy, driven by substantially lower handset subsidies and including a nonrecurring \u008012.5 million benefit. Adjusted EBITDA of \u0080222.3 million in Q2 2014, up 3% yoy, reflecting higher costs associated with handset subsidies, interconnection and copyrights, partially offset by lower spend on marketing campaigns;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Accrued capital expenditures<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(2)</sup> of \u0080187.7 million in H1 2014, representing around 22% of revenue, impacted by renewal of Belgian football broadcasting rights. Excluding the latter, accrued capital expenditures represented around 18% of revenue, reflecting phasing of set-top boxes and certain network investments;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Robust Free Cash Flow<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(3)</sup> of \u0080150.6 million in H1 2014, up 50% yoy, driven by robust Adjusted EBITDA growth and an improvement in our working capital;</div> </li> </ul> Confident to deliver 5-6% Adjusted EBITDA growth for the full year despite softer revenue outlook (4-5%). Relative outlook for accrued capital expenditures as a percentage of revenue was maintained (20-21%) with Free Cash Flow expected to remain within the \u0080230-240 million range",
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        "1",
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    "author": {
        "first_name": "Isabelle",
        "last_name": "Geeraerts"
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