M7 Group moves to profit in 2018 as revenues grow 2%

Wednesday 14 August 2019 | 11:14 CET | News

M7 Group saw its revenues for 2018 grow by 2 percent to EUR 319 million. The satellite TV group improved its net result to a profit of EUR 10.3 million compared with a net loss of EUR 20.95 million in 2017, according to its recently filed annual report at the Luxembourg Trade registry. EBITDA decreased by 32 percent to EUR 95.9 million as operating costs increased by almost 6 percent during 2018.

The improvement in revenues came from growth in Austria and Skylink countries (Czech Republic, Slovakia) while the broadcasting revenues in the Benelux stabilised. The Dutch broadband operations (Online.nl) saw a decline in low-margin broadband connections, while high-yielding IPTV connections grew by 32 percent during 2018. 

In all territories churn and customer satisfaction improved due to the adaptation of M7’s TV everywhere platform and introduction of smart TV apps for Samsung and LG TVs, M7 said. Satellite TV churn dropped by 20 percent in the Netherlands and Skylink countries.

The Dutch revenues grew by 3.4 percent to EUR 148.7 million in 2018, as the acquisition of Fiber Nederland and Stipte from December 2017 was fully absorbed during 2018. The Netherlands thus remains the largest revenue source for M7 Group, followed by the Skylink countries, where revenues grew by 7.3 percent to EUR 102.8 million in 2018. Belgium passed Germany to become the third largest revenue source with EUR 25.9 million despite a 3.6 percent decrease. German revenues dropped due to a continued decline in B2B revenues as well as lower hardware sales, ending 2018 with EUR 21.2 million (-30.8%). Austria is the fifth largest revenue source with EUR 15.5 million, growing by 21.5 percent during 2018.

For 2019, revenues are expected to continue to grow as M7 Group completed the acquisition of UPC’s satellite TV operations in Hungary, the Czech Republic, Slovakia and Romania in May. This is expected to lead to Czech Republic/Slovakia becoming the largest revenue source, ahead of the Netherlands.

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Categories: General
Companies: M7 Group
Countries: Europe
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