French cable and telecom giant Numericable-SFR has posted a decline in revenue of 5% and losses of €175 million for the 2014 full year. The combined company posted revenues of €11.43 billion, down from €12 billion for 2013, with the decline in revenues attributed to price competition in the mobile market.
Numericable-SFR also said its losses for the period could be explained in large part by the need to raise the debt necessary to finance the acquisition of SFR last year.
On the upside, Numericable-SFR recorded solid growth in very high-speed internet subscribers, up 4.5% to 1.547 million. ADSL customers on the other hand declined slightly, falling by 1.4% to 5.03 million. Fixed ARPU also declined slightly, falling by 0.6% to €34.10.
The company said its mobile losses had been partly compensated by a programme of cost cutting put in place by the previous management of SFR.