{
    "title": "First Quarter 2013 Results",
    "modified_at": "2013-04-25 19:45:00",
    "published_at": "2013-04-25 19:45:00",
    "url": "https://press.telenet.be/first-quarter-2013-results",
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    "culture": "en",
    "language": "EN",
    "slug": "first-quarter-2013-results",
    "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 IFRS\") for the three months ended March 31, 2013. </p> <p align=\"justify\" class=\"hugin\"><strong class=\"hugin\">HIGHLIGHTS</strong> </p> <ul class=\"hugin\" type=\"disc\"> <li class=\"hugin\"> <div class=\"hugin\">Revenue of \u0080405.6 million, up 11% yoy driven by a growing contribution from our mobile operations and continued RGU growth in fixed services;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Continued traction for our \"King\" and \"Kong\" mobile rate plans with 103,400 net mobile postpaid subscribers added in Q1 2013. Our mobile subscriber base more than doubled yoy to 625,000 at the end of March 2013;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Solid uptake for our premium fixed products and bundles in Q1 2013 with 21,500 net new subscribers for broadband internet, 19,000 for fixed telephony and 26,000 for digital TV with stable conversion rate yoy;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Stable net loss of basic cable TV subscribers compared to Q4 2012 at 11,400, despite increased competition;</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 \u0080201.5 million, up 5% yoy, impacted by seasonally higher costs associated with handset sales and subsidies. Margin of 49.7% was up 190 basis points sequentially, driven by lower marketing expenses, overall control of our overhead expenses and favorable impact from certain nonrecurring benefits;</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 \u008095.8 million, or 24% of revenue, impacted by extension of Premier League football broadcasting rights. Excluding capitalized football rights, accrued capital expenditures remained stable yoy on lower digital TV migrations and increased efficiencies in our customer installation processes;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">Negative Free Cash Flow<sup class=\"hugin\" style=\"vertical-align: text-top; font-size: 0.8em;\">(3)</sup> of \u008010.0 million, impacted by first semi-annual cash interest payment on the \u0080700.0 million of Senior Secured Fixed Rate Notes issued in August 2012 and a negative trend in our working capital, which we anticipate to reverse throughout the rest of the year;</div> </li> <li class=\"hugin\"> <div class=\"hugin\">On April 24, 2013, shareholders approved the proposed extraordinary (gross) dividend of \u00807.90 per share. Payment scheduled for May 8, 2013 with stock trading ex-dividend as of May 3, 2013.</div> </li> </ul>",
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    "author": {
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        "last_name": "Geeraerts"
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