Telenet sees FMC growth but video subs decline

Liberty Global-backed Belgian cable operator Telenet posted strong growth in its fixed-mobile customer base in the third quarter but saw its video base decline and its broadband base flatline.

The company saw its video base decline by 4% year-on-year to 1.882 million. Basic video customers declined by 16% to 176,400 while enhanced video numbers were down 3% at 1.705 million.

Broadband subscribers were flat at 1.66 million, while fixed phone customers were down 4% at 1.221 million.

Mobile customers were up by 4% to 1.779 million with growth in post-paid subscribers far outweighing a decline in pre-paid customers.

On the positive side, Telenet saw its fixed-mobule base grow to 508,200, up 35% year-on-year and new representing close to a quarter of total customer relationships.

A higher share of multiple-play subscribers, including an increase in higher-tier broadband customers, drove 4% year-on-year growth in ARPU to €57.4.

Telenet posted nine-months revenues of €1.911 billion, up 1%. However, on a rebased basis excluding the impact of the acquisition of Nextel and De Vijver Media, revenues were down 1.4%, hit by lower wholesale revenue from Telenet’s Medialaan MVNO contract.

The operator turned in a net profit of €142.9m million, down 30% as a result of higher net finance expenses. Adjusted EBITDA was €1.025 billion, up 3% on a reported basis. Adjusted EBITDA was however down by 1% excluding the Nextel and De Vijver Media acquisitions.

CEO John Porter said the operator was on track to roll out DOCSIS 3.1 technology on its network soon.