German cable operator Tele Columbus posted revenues of €123.2 million for the third quarter, down 3.5% year-on-year, but saw EBITDA rise by 10.5% to €55.2 million, with management of the company confirming its full-year guidance.
The company said that the revenue decline was mainly driven by a 16% year on year decline in \other sales’ including construction work. Positively, Internet and Telephony revenues increased by 5.8% year on year to €36.6 million. However, TV revenues decreased by 4.8% year on year to €59.2 million as a result of RGU losses in a structurally challenging market.
EBITDA was boosted by non-recurring costs continuing to decline in the third quarter to €4.1 million, down 52.5% year on year. These are expected to decline further in the remainder of the year.
Capex in the third quarter of 2019 decreased significantly by 18.8% year on year to €38.2 million.
As of September 30, the group reported approximately 3.4 million homes connected. The number of homes connected and upgraded for two-way communication on its own network increased by 6,000 sequentially to 2,346,000 in the third quarter 2019 which represents a ratio of 69.6%.
At the end of the quarter, Tele Columbus served 2,280,000 unique subscribers, a decrease of 24,000 sequentially, which translates into 2,234,000 cable TV RGUs, 24,000 less quarter on quarter, 545,000 Premium TV RGUs, down 8,000 quarter on quarter, 579,000 internet RGUs, up 2,000 quarter on quarter, and 429,000 telephony RGUs, down 2,000 quarter on quarter.
“I am very pleased with the tangible progress that we are making in transforming the business. We are convinced that with continued performance improvements, we will return the Company to growth,” said Timm Degenhardt, CEO of Tele Columbus.
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