KDG sees growth in subscribers and revenues

Kabel Deutschland recorded an increase of 420,000 revenue-generating units over the financial year as revenues also increased by 10%.

The largest cable operator in Germany saw RGUs rise from 11.63 million to 12.05 million as well as an 11.5% rise in premium pay-TV package subscribers to 1.07 million.

Revenues increased 10% to €1.5bn, while EBITDA reached €659.1 million from €570.6m. This comes as the company posted a net loss of €45.3m for the fiscal year, compared with a net loss €144.3m, which it blamed on high depreciation and amortisation costs following significant capital expenditure in recent years.

This was KDG’s first financial results since its initial public offering and was welcomed by analysts. Investment bank Morgan Stanley noted that its results were good with important “supportive” guidance for next year. “We think KDG offers the strongest growth profile in European cable and telcos,” it said.

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