Telenet ‘on track’ to deliver earnings growth

Liberty Global-backed Belgian cable operator Telenet reported strong revenue-generating unit growth and said it was on track to deliver 5-7% EBITDA growth on the back of cost savings from the acquisition of mobile operator BASE Company.

Telenet said that its RGU count increased by 31,000 in Q2, driven by marketing and promotions. The period saw the launch of all-in-one converged product WIGO, which signed up 13,000 subscribers between its late June launch and the end of the quarter, boosting quad-play numbers.

Telenet sold 27,700 post-paid mobile subscriptions in the quarter. The company extended its full MVNO deal with Orange Belgium ahead of its planned transition of mobile services to BASE’s network.

Telenet posted revenues of €626.1 million in Q2, up 3% on a like-for-like basis. Adjusted EBITDA was €290.4 million, up 1% on a like-for-like basis.