Altice said revenue trends were improving on a sequential basis and it still expects to meet its outlook for 2016 of an improving trend in group revenue on a constant currency basis, mid-single digit growth in adjusted EBITDA and flat to slightly lower operating free cash flow due to accelerated investments. The outlook includes the takeover of Cablevision in the US, which is expected to close in Q2.
Group adjusted EBITDA was up 0.9 percent in Q1 to EUR 1.615 billion, led by growth in Portugal and the US, and the adjusted EBITDA margin expanded by 1.3 percent points year-on-year to 37.9 percent. Operating free cash flow increased 1.1 percent to EUR 899 million, and capital expenditure rose to EUR 760.4 million from EUR 712.2 million a year ago, due mainly to higher spending on exclusive content.
Altice ended the quarter with 26.44 million mobile customers, down from 27.05 million a year ago. Postpaid mobile customers increased by 67,000 in Q1 to 17.50 million. In the fixed market, Altice counted 5.12 fibre broadband customers, an increase of 105,000 in Q1, as well as 5.28 million DSL and non-fibre customers.
