German cable operator Kabel Deutschland said that it added 55,000 TV customers during its fiscal second quarter, marking the start of its “premium TV recovery”.
Kabel Deutschland said that it closed the three months ending September 30 with 2.15 million premium TV service subscribers – up 15.4% year-on-year.
Total TV average revenue per user also improved to €10.72 in the second quarter, up by 3.9% from €10.32 in the previous year. It attributed this to “better subscriber mix and growing premium TV penetration.”
Kabel Deutschland said the results were stonger than in the preceding quarter when it added just 24,000 TV subscribers. The firm said this “softer demand” came after various private SD channels were unencrypted, “which significantly reduced contact rates and up-selling opportunities.”
During fiscal Q1, Kabel Deutschland also reported pay TV wholesale customer churn of 32,000, which it lowered to 15,000 in the second quarter.
“Due to various marketing measures, gross add performance is coming back to last year’s level,” the firm said.
Overall, Kabel Deutschland reported revenues of €471 million, up 4% year-on-year. Adjusted earnings before interest, taxes, depreciation, and amortisation came in at €232 million, up 8.9% year-on-year.
However, the company posted a net loss of €129 million due to “a negative net income effect of €206 million from the Vodafone transaction.” Vodafone completed its acquisition of Kabel Deutschland by acquiring 76.57% of the company’s share capital last month.
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30 October 2020 @ 18:30:00 UTC