Forthnet saw its total revenues for 2018 fall 4 percent to EUR 285.2 million in 2018. Revenue from advertising improved by 14.0 percent as a result of the continuously upgraded content of Nova's TV programme. Revenue from corporate customers increased by 5.9 percent. EBITDA reached EUR 42.3 million, up by 5.3 percent compared to 2017 due to strict adherence to the company's operational restructuring plan, while EBITDA margin rose 1.3 percent to 14.8 percent in 2018.
Retail subscriptions declined by 5.5 percent to 927,000, unique households dropped by 3.4 percent to 669,000 , broadband subscribers decreased by 2.2 percent to 550,000, while retail and wholesale pay TV subscribers in Greece and Cyprus were almost unchanged at 478,000. Active LLU customers counted 536,000, representing 2.1 percent less than in 2017.
Demand and subscriber base in pay TV continue to be affected by the over-taxation of the consumers and the industry, as well as the unfair competition from multinational companies, which provide comparable services without being subject to the same tax burdens, the company said in a press release.
Forthnet is in the process of entering the mobile telephony market as a MVNO, following regulatory decisions that after many years finally aligned the Greek mobile telephony market framework with that of the rest EU countries.
