German cable network operator Kabel Deutschland reported revenues of EUR 444 million for its fiscal first quarter to June, growing by 7.7 percent year-on-year. Adjusted EBITDA went up by 8.2 percent to EUR 209 million, leading to an EBITDA margin of 47.1 percent, up from 46.9 percent a year earlier. Net profit jumped to EUR 66 million from EUR 8 million a year ago. The management board confirmed its guidance for the current fiscal year, excluding the Tele Clumbus acquisition. It continues to expect 7.5-8.5 percent revenue growth and EBITDA of EUR 855-870 million, with a positive net result. It also plans a stable dividend of EUR 1.50 per share, assuming net debt is maintained at 3.0-35 times annual EBITDA. Capex is estimated at 25 percent of revenues over the full year, after EUR 116 million or 26.1 percent in the first quarter.
The number of revenue-generating units grew by 229,000 in the quarter, up from 137,000 a year ago, to a total 13.7 million at the end of June. Growth was led by internet subscribers, up by 65,000 in the three months to 1.583 million, and phone subscribers, up by 63,000 to 1.612 million. Basic TV subscribers fell by 7,000 to 7.225 million, but premium TV customers grew by 102,000 to 1.728 million. The RGU per subscriber ratio improved to 1.60 from 1.47 one year ago, helping ARPU grow by 10.0 percent year-on-year to EUR 15.38.
