First Nine Months 2015 Results
Thursday, October 29, 2015 —
- Continued focus on providing a great customer experience, including our "Helemaal Mee Tournee", and targeted promotions drove a 43% qoq increase in net additions to our advanced fixed services;
- Solid operational results translated into a robust financial performance with revenue up 6% yoy to 1,349.7 million and Adjusted EBITDA growing 5% yoy to 724.2 million;
- Full year 2015 outlook reaffirmed.
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 nine months ended September 30, 2015.
- Q3 2015 net subscriber growth for advanced fixed services of enhanced video, broadband internet and fixed-line telephony up 43% qoq, driven by attractive promotions and family-centric marketing campaigns;
- Mobile postpaid subscribers +13% yoy to 977,200 at September 30, 2015 with 23,500 net subscribers added in Q3. BASE Company acquisition pending regulatory approval, expected to close at the end of March 2016;
- Revenue(1) of 1,349.7 million, +6% yoy, driven by higher revenue from our advanced fixed services and a growing contribution from our mobile and B2B businesses. Q3 2015 revenue of 457.6 million, +6% yoy, and reflecting the benefit from our recently introduced handset financing program;
- Adjusted EBITDA(2) +5% yoy to 724.2 million, reflecting a nonrecurring 7.6 million benefit in Q2 2015 due to the settlement of certain operational contingencies. Q3 2015 Adjusted EBITDA of 242.8 million, +7% yoy, driven by continued focus on operational excellence, lower handset subsidies due to timing variances in our campaigns and the introduction of our handset financing and "Choose Your Device" programs;
- Accrued capital expenditures(3) of 248.6 million, or around 18% of our revenue. Excluding the recognition of the Belgian football broadcasting rights, they represented around 16% of our revenue, with lower spending on set-top boxes and customer installations partly offset by higher network-related investments;
- Free Cash Flow(4) of 225.2 million, +7% yoy, driven by solid Adjusted EBITDA growth, lower cash interest expenses and an improved trend in our working capital. Q3 2015 Free Cash Flow of 80.1 million, +36% yoy.