Com Hem Q1 revenue supported by broadband, EBITDA edges up

News Broadband Sweden 2 MAY 2014
Com Hem Q1 revenue supported by broadband, EBITDA edges up

Com Hem said revenue in the first quarter of 2014 reached SEK 1.124 billion, up 0.9 percent from SEK 1.114 billion in the fourth quarter of 2013, thanks to continued strong momentum in broadband, and price index increases boosting revenue from property owners. Underlying EBITDA rose 0.8 percent to SEK 545 million in the three months to 31 March from SEK 540 in the final quarter of last year. The net loss for the first quarter was SEK 255 million, up from SEK 59 million in the first quarter of 2013.

Capital expenditure dropped 46 percent to SEK 215 million from SEK 398 million in the final quarter of 2013. Total costs went up to SEK 579 million from SEK 573 million in the last quarter of last year. Production costs sent up to SEK 315 million to SEK 306 million because of growth initiatives such as TiVo, service provider business and timing differences while operating costs fell to SEK 264 million from SEK 268 million due to lower bad debt, barter costs and general cost savings.

Digital TV revenue went up to SEK 431 million in the first quarter from SEK 423 million in the previous quarter thanks to a better tier mix.

Broadband revenue improved to SEK 344 from SEK 335 million, fixed telephony revenue fell to SEK 90 million from SEK 98 million, and revenue from services to property owners (landlord/landlady business) rose to SEK 201 million from SEK 196 million.

ComHem said its total number of revenue-generating units (RGUs) increased to 1.492 million from 1.482 million in the last quarter of 2013 and the number of unique subscribers to 838,000 from 830,000. Blended residential ARPU grew to SEK 359 in the first quarter from SEK 355 in the fourth.

Digital TV RGUs slipped to 595,000 from 597,000 but ARPU in this segment improved to SEK 243 from SEK 237. The number of TiVO subscriptions climbed to 74,000 in the first quarter from 38,000 in the fourth.

In the broadband segment, the number of RGUs went up to 570,000 in the first quarter of 2014 from 558,000 in the last quarter of 2013, and 37 percent of its clients now use its service at 100-500 Mbps, up from 35 percent in the previous quarter. The increase in clients is mainly attributable to the Service Provider initiative and adding new broadband RGUs from OffNet communication operator households, demand for faster speeds and increasing consumption of video via internet.

The number of fixed telephony customers was stable at 327,000 as fixed to mobile substitution continues.

Categories:

Fixed

Companies:

Com Hem

Countries:

Sweden

Tags:

Voice services, Sales figures, Financial figures, Internet Access

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