Altice grows Q1 EBITDA 20% on French synergies

News General France 12 MAY 2015
Altice grows Q1 EBITDA 20% on French synergies
Altice reported first-quarter revenues down 3.3 percent year-on-year to EUR 3.263 billion, pro forma for its takeovers in France and the Dominican Republic. Revenue in its main market France fell 4.7 percent to EUR 2.737 billion, and revenue elsewhere was up 4.9 percent to EUR 527 million. EBITDA increased 20 percent to EUR 1.177 billion, as the company reaped the synergies of merging Numericable and SFR in France. It also benefited from expansion in the Dominican Republic and mobile growth in Israel. The EBITDA margin expanded by 6.9 percent points to 36.1 percent. 

Operating free cash flow increased 12 percent to EUR 645 million, while group capex was up 31 percent to EUR 531 million due to increases in France, Israel and the Dominican Republic. Since the end of the first quarter, Altice completed the buy-out of Numericable-SFR. It also said it expects to complete the takeover of PT Portugal by the end of May. For the full year 2015, the company targets pro forma adjusted EBITDA of at least EUR 2 billion and capex in the high teens as a percentage of revenues. The medium-term target is to reach an adjusted EBITDA margin of 50 percent. The outlook excludes activities up for divestment in Portugal and the French overseas departments, but includes Portugal Telecom. 

Categories:

General

Companies:

SFR,  Altice Europe,  Numericable,  PT Portugal

Regions:

Global

Countries:

France

Tags:

Voice services, Financial figures, Internet Access

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