First Quarter 2009 Results
- Record quarterly subscriber growth in a challenging environment;
- EBITDA up 26% driven by continued strong business performance and Interkabel acquisition;
- Free cash flow of 59 million, equivalent to 21% of revenue.
The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007
regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.
regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.
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 first quarter ended March 31, 2009.
HIGHLIGHTS
- Record quarterly net additions for each of digital TV, broadband and fixed telephony resulting in aggregate organic net additional subscribers of 184,000 in Q1 2009;
- Continued strong demand for Telenet Digital TV across all of Flanders: record organic net additional subscribers in Q1 2009 of 107,000 to total of 716,000;
- Revenue of 286.3 million, up 16% versus prior year;
- EBITDA(2) of 149.2 million, up 26% versus prior year, yielding an EBITDA margin of 52.1%;
- Operating profit of 73.2 million, up 28%;
- Capital expenditures(3) of 74.2 million, including 33.5 million rental set top boxes following strong success of digital TV;
- Free Cash Flow(4) of 59.3 million, equivalent to 21% of revenue;
- Repayment of 65.0 million of outstanding Revolving Facility during Q1 2009;
- Net Senior Debt to EBITDA leverage down to 3.3x as of March 31, 2009 vs. 3.7x at December 31, 2008.
Press release Q1 2009 results
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