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Euskaltel sees strong TV growth

EuskaltelSpanish regional cable operator Euskaltel, which controls networks in the Basque Country and, through subsidiary R, in Galicia has posted revenues of €430.4 million for the third quarter, up 76.1%, and EBITDA of €209.5 million, up 79.6%.

On a like-for-like basis, including R’s prior year revenues, revenue growth was 2.2%, driven primarily by 4.4% growth in its residential business. EBITDA growth on a like-for-like basis was 5.7%.

Euskaltel had 549,000 customers at the end of the period, up marginally quarter-on-quarter. Total revenue generating units amounted to 1.88 million, up 72,000 since the start of the year.

Some 65.2% of Euskaltel’s base took three or four products at the end of September, up from 62.1% for the same period last year.

The company said it added 24,500 TV customers in the first nine months, with TV now reaching 55% of the company’s base.

Euskaltel’s board yesterday approved a 0.15% dividend, which will result in a payout of €22.77 million.