German cable operator Tele Columbus posted revenues of €73.9 million, up 37.4%, and EBITDA of €36.9 million, up 43.3%, in its first quarterly results since the acquisition and consolidation of Primacom, which took place in August.
Tele Columbus had 397,000 premium TV subscribers as of September 30, up 143.8%. Broadband customers numbered 363,000, up 84.6% and telephony subscribers numbered 352,000, up 111.4%. overall, the company has 2.83 million connected homes, of which 57% are two-way upgraded.
Tele Columbus said it added another 30,000 upgraded homes it is base in October and November through further acquisitions of regional networks.
The company last week successfully completed its rights offering with net proceeds of approximately €363.3 million. The company has also announced that it will move its HQ functions from Hanover to Berlin and Leipzig within two years.
“With the first consolidated financials for the combined Tele Columbus and primacom business, we opened a new chapter in the history of the company and laid the basis for the combined future”, says Ronny Verhelst, CEO of Tele Columbus.
“In the past months, we have driven the integration of the combined organisation as fast as possible to be able to proceed on our growth path at increased speed as well as bringing together the financial reporting of both companies. With the core management team and main organisational structure in place, we are now ready for the planned integration of pepcom to take the company’s development to the next level.”