{
    "title": "First Quarter 2012 Results",
    "modified_at": "2017-03-09 12:05:50",
    "published_at": "2012-05-02 19:45:00",
    "url": "https://press.telenet.be/first-quarter-2012-results-93504",
    "short_url": "http://prez.ly/iuy",
    "culture": "en",
    "language": "EN",
    "slug": "first-quarter-2012-results-93504",
    "body": "<p>- <strong>Continued strong triple-play net additions and handset sales drove 10% top line growth;</strong></p>\r\n\r\n<p>- <strong>Adjusted EBITDA up 11% yoy to \u0080192.6 million, underlying margin of 52.9%;</strong></p>\r\n\r\n<p><strong>- Success-based capital expenditures lay foundation for sustainable growth.</strong></p>\r\n\r\n<p>Telenet Group Holding NV (&quot;Telenet&quot; or the &quot;Company&quot;) (Euronext Brussels: TNET) announces its unaudited consolidated results under International Financial Reporting Standards as adopted by the European Union (&quot;EU GAAP&quot;) for the first three months ended March 31, 2012.</p>\r\n\r\n<p>&nbsp;</p>\r\n\r\n<p><strong>HIGHLIGHTS</strong></p>\r\n\r\n<p>&nbsp;</p>\r\n\r\n<ul>\r\n\t<li>\r\n\t<p>Revenue of \u0080364.0 million, up 10% yoy, driven by a higher share of multiple-play, mobile and Sporting Telenet subscribers, higher stand-alone handset sales and selective price increases on basic cable TV and broadband. Excluding low-margin revenue generated from hardware sales, our revenue was up 8% yoy.</p>\r\n\t</li>\r\n\t<li>\r\n\t<p>ARPU per customer relationship<sup>(4)(5)</sup> up 10% yoy to \u008044.8, the absolute yoy increase of \u00804.2 was our best achievement since Q4 2009;</p>\r\n\t</li>\r\n\t<li>\r\n\t<p>Robust net additions of 22,700 triple-play subscribers, our best result since Q4 2009, to 805,800 at Q1 2012 quarter-end, representing now 37% of our overall customer base;</p>\r\n\t</li>\r\n\t<li>\r\n\t<p>Adjusted EBITDA<sup>(1)</sup> of \u0080192.6 million, up 11% yoy, resulting in an underlying margin of 52.9%. Excluding non-recurring elements, our Adjusted EBITDA grew 9% yoy;</p>\r\n\t</li>\r\n\t<li>\r\n\t<p>Net profit fell 71% to \u008012.2 million as a result of a \u008017.6 million non-cash loss on our interest rate derivatives, higher interest expenses and amortization charges linked to the Belgian football broadcasting rights;</p>\r\n\t</li>\r\n\t<li>\r\n\t<p>Accrued capital expenditures<sup>(2)</sup> amounted to \u008078.6 million, or 22% of revenue, driven by phasing of set-box capital expenditures, higher Fibernet migrations and the Pulsar node splitting project;</p>\r\n\t</li>\r\n\t<li>\r\n\t<p>Free Cash Flow<sup>(3)</sup> fell 36% to \u008055.0 million driven by negative working capital movements, higher cash interest expenses and a final cash payment for the Belgian football broadcasting rights for the current season;</p>\r\n\t</li>\r\n\t<li>\r\n\t<p>AGM/EGM of April 25, 2012 approved the proposed shareholder disbursement of \u00804.25 per share, including a gross dividend payout of \u00801.00 per share on May 10, 2012 and a net capital reduction payout of \u00803.25 per share on August 31, 2012.</p>\r\n\r\n\t<p>&nbsp;</p>\r\n\r\n\t<p>Click on the link below to read the full press release.</p>\r\n\t</li>\r\n</ul>\r\n",
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    "author": {
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