A strong performance in broadband helped boost Swedish cable operator Com Hem’s full-year 2016 performance, with revenue up 4.4% to SEK5.2 billion (€550 million) and underlying EBITDA up 5.3% to SEK2.47 billion.
The operating results were boosted by strong Q4 demand for broadband, with 13,000 broadband customer additions, taking the operator’s broadband total to 700,000 revenue-generating units.
On the TV side, Com Hem grew its TiVo advanced TV base by 6,000 customers in the quarter, taking it to 38% of the overall digital TV base. Overall, digital TV RGUs gew by 3,000 in the quarter, while fixed telephony RGUs dropped by 12,000.
Com Hem saw a slight increase in churn as its shed low-value TV customers, Consumer ARPU remained at an all-time high of SEK371.
Com Hem said its integration of digital-terrestrial pay TV operator Boxer was well underway and going according to plan.
The operator plans to increase the profitability of Boxer’s base by expanding the service’s availability with a fibre launch in the first quarter. The operator said it had the expertise and experience to turn a well-known TV brand into a profitable broadband provider. Boxer has a significant customer base in the single dwelling unit market, and the company believes it can use the Boxer brand to make further inroads into this market outside Com Hem’s own current expansion programme in the SDU market.
The operator reiterated its prediction of mid-single digit annual revenue and EBITDA growth for Com Hem this year, while Boxer is expected to add SEK300 million in underlying EBITDA this year and then grow at the same rate as the rest of the group.
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