Full Year 2009 Results
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 full year ended December 31, 2009.
HIGHLIGHTS
- FY 2009 net additions exceeded 2008 levels: broadband internet (131,000, up 28% yoy), Telenet Digital TV (329,000, up 51% yoy) and fixed telephony (112,000, up 38% yoy);
- New mobile offers and targeted campaigns resulted in sharp rise in new subscribers (+24,000 in Q4 2009);
- Revenue of 1,197.4 million, up 18% compared to prior year, yielding organic growth of 9%;
- Adjusted EBITDA(1) up 20% year-on-year to 607.7 million including a nonrecurring post-employment benefit expense of 6.6 million, implying an Adjusted EBITDA margin of 50.7%;
- Accrued capital expenditures(2) of 317.6 million, including 103.9 million related to set-top box rental;
- Free Cash Flow(3) growth of 38% to 166.9 million, equivalent to 14% of revenue;
- Strong improvement in net profit compared to prior year, positively impacted by nonrecurring tax credit;
- Outlook FY 2010 foresees around 8% top line growth, Adjusted EBITDA margin of close to 50% and accrued capital expenditures of around 23% of revenue, resulting in strong free cash flow growth;
- Proposed extraordinary shareholder disbursement of 2.23 per share.
Enclosed you will find the complete press release.
