Tele Columbus sees decrease in revenues, subscribers but jump in EBITDA in Q3

Friday 29 November 2019 | 10:49 CET | News

German cable operator Tele Columbus said that its revenues decreased by 3.5 percent in Q3 to EUR 123.2 million, mainly driven by a 16 percent decline year-on-year in other sales, including new construction developments. 

Internet and telephony revenues increased by 5.8 percent year-on-year to EUR 36.6 million, while TV revenues decreased by 4.8 percent year-on- year to EUR 59.2 million as a result of RGU losses in a structurally challenging market. The management board confirms its guidance for 2019 of broadly stable homes connected compared with 2018, broadly stable revenues year-on-year, broadly stable normalised EBITDA year-on-year and broadly stable Capex year-on-year.  

Normalised EBITDA increased by 4.5 percent in Q3 this year to EUR 61.2 million, including IFSR 16, while without using the international accounting standards, it grew by 1.2 percent to EUR 59.3 million. Non-recurring costs continued to decline in the third quarter to EUR 4.1 million, down 52.5 percent year-on-year, and are expected to decrease further in the remainder of the year. As a result, reported EBITDA jumped by 14.4 percent year-on-year, including IFSR 16, during the period to EUR 57.1 million. Without IFSR 16, reported EBITDA grew by 10.5 percent to EUR 55.2 million in Q3.  

Capex in the third quarter of this year fell by 18.8 percent to EUR 38.2 million without IFSR 16 and by 11.5 percent to EUR 41.6 million using the accounting standards. The decrease was the result of a high comparable base that was impacted by integration-related investments as well as pent-up demand for capacity initiatives last year. 

As of 30 September 2019, Tele Columbus reported approximately 3.4 million homes connected. The number of homes connected and upgraded on the company's own network increased by 6,000 to 2.34 million in the third quarter of this year. The number of unique subscribers decreased by 24,000 in the period to 2.28 million, including 579,000 internet subscribers, 429,000 telephone subscribers, 545,000 premium TV subscribers and 2.23 million subscribers of cable TV.

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Categories: Fixed
Companies: Tele Columbus
Countries: Germany
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