Ziggo reports subscriber growth

Dutch cable operator Ziggo reported 46,000 internet net additions and 37,000 new All-in-1 bundle subscribers in the third quarter, its highest sequential growth in net adds since 2010. 

The firm said that All-in-1 bundle penetration now reaches 53.9% of its consumer customer base, while the 46,000 new internet sign-ups represented 2.5% quarter-on-quarter growth and 6.3% year-on-year growth.

Revenues for digital pay TV were down 2.7% year-on-year. However,

Ziggo said that a loss of pay-TV subscribers was partially offset by high growth of VoD transactions, which were up 43% year-on-year.

“Even though this quarter was very successful in terms of growth of RGUs, we believe that for the foreseeable future the market will remain as competitive as we have seen in the last six quarters,” said CEO Bernard Dijkhuizen.

For the quarter, revenue was up 2.9% year-on-year to €391.1 million. Organic revenue excluding set-top box sales and revenue from other sources was up 0.9%. Net profit was up 19.4% to €86.5 million, from €72.4 million in Q3 2012.