Altice stabilises revenues in Q3, EBITDA continues higher

News General Europe 10 NOV 2016
Altice stabilises revenues in Q3, EBITDA continues higher
Altice reported third-quarter revenues flat at EUR 5.89 billion, as growth at its newly acquired US cable operators offset continued declines at its European operations. Synergies and cost reductions after the string of takeovers helped adjusted EBITDA grow 8.3 percent year-on-year to EUR 2.33 billion, and the margin expanded by 3 percent points to 39.5 percent.

Operating cash flow, defined as EBITDA minus capex, rose 13.6 percent to EUR 1.38 billion, excluding over EUR 400 million spent on sport rights in the quarter. Capex including the rights totaled EUR 1.36 billion, up from EUR 936 million a year ago. 

Altice said all its units contributed to the better performance in Q3. SFR in France slowed the drop in revenues, and the US operators Optimum and Suddenlink are growing faster than expected, helped by investments in faster networks. Meo in Portugal also returned to growth for the first time since 2008. 

Net debt reached EUR 49.28 billion at the end of September, equal to leverage of 5.7x. In the year to date Altice said it has refinanced over EUR 21 billion in debt, extending the average maturity by 18 months while keeping the cost the same.

Categories:

General

Companies:

Altice Europe

Regions:

Europe

Countries:

United States

Tags:

Voice services, Data services, Financial figures, Internet Access

Related Articles

FRANCE 8 MRT 2017

Altice accelerates revenue growth in Q4, EBITDA up 16%

Altice Group reported an acceleration in pro forma revenue growth in the fourth quarter to 2.7 percent on an annual basis, thanks to a return to growth in France and Portugal and continued growth in the US. Total revenues reached EUR 6.087 billion and were up 2.2 percent on a constant currency basis and after adjusting for acquisitions. Group adjusted EBITDA increased 15.7 percent to EUR 2.286 billion, led by cost savings in France and the US. Altice grew operating free cash flow 20.4 percent year-on-year t

UNITED STATES 30 NOV 2016

Altice USA to skip Docsis 3.1, upgrade instead to FTTP

Cable operator Altice USA has announced plans to convert its hybrid fibre coax network to FTTP, skipping the upgrade to Docsis 3.1. Altice, which acquired the cable operators Suddenlink and Cablevision in the US and is already rolling out FTTH in France and Portugal, said it plans to start rolling out fibre in the US next year. Initial markets will be announced in the coming months. The five-year deployment schedule, called 'Generation Gigaspeed' by Altice, is planned to bring FTTP to the entire Optimum (fo

DOMINICAN REPUBLIC 14 NOV 2016

Altice Q3 sales up 3% to EUR 174 mln in Dominican Republic

Altice reported third-quarter revenues of EUR 174 million for its Orange Dominicana brand in the Dominican Republic, up 3.0 percent year on year on a constant currency basis and 0.7 percent on a reported basis. Adjusted EBITDA was up 7.7 percent year on year to EUR 92 million on a constant currency basis, with an EBITDA margin of 52.8 percent. Capex for the quarter fell by 2.7 percent to EUR 36 million, mostly spent on further 3G and 4G network expansion, with the operator also expanding its fibre-optic net

PORTUGAL 11 NOV 2016

PT Portugal stabilises revenues in Q3

PT Portugal (Meo) ended the third quarter of 2016 with revenues of EUR 577.6 million, down by 0.7 percent year-on-year, according to the financial results of parent Altice. Excluding regulatory impacts, revenues increased by 1.2 percent, the first time since 2008, driven by a stabilizing B2C trend, the large corporate customer base remaining stable for the past 12 months since Altice took ownership and double-digit growth in the Wholesale & Other business, the company said. In addition, Meo boost capex by 4

FRANCE 11 NOV 2016

SFR reports falling customers in Q3 as revenue loss improves

French mobile and broadband operator SFR reported that subscriber losses continued in the third quarter, driven by falling mobile postpaid and ADSL connections. While the decline in the customer base kept revenue performance in negative territory, the drop in revenue improved from the two previous quarters. Revenue excluding SFR media assets declined by 2.6 percent year-on-year (-4.6% in Q2 and -6.1% in Q1), while decreasing by 2.0 percent when including media assets and excluding regulatory impact.

UNITED STATES 11 NOV 2016

Altice USA accelerates revenue growth in Q3

Altice reported an acceleration in growth at its US activities in the third quarter. The company said Optimum had the highest revenue growth since 2014, at 2.7 percent year-on-year to USD 1.61 billion, and Suddenlink improved to 6.7 percent annual revenue growth, for total sales of USD 646 million. Both showed strong margin improvement as well, up 8.2 percent points at Optimum and plus 5.4 points at Suddenlink. Adjusted EBITDA rose 33.1 percent to USD 576 million at Optimum and was up 20.8 percent to USD 30

EUROPE 10 NOV 2016

Stabiele omzet voor Altice, hogere ebitda

Altice heeft over het derde kwartaal van dit jaar een omzet gerealiseerd van 5,9 miljard euro, nagenoeg gelijk aan een jaar geleden. De Amerikaanse activiteiten van het bedrijf wisten de daling in Europa enigszins te ondervangen. Synergievoordelen en kostenreducties zorgden voor een groei van de ebitda naar 2,3 miljard euro (+8,3%) bij een marge van 39,5 procent. De operationele kasstroom steeg met 13,6 procent naar 1,4 miljard euro, exclusief kosten (EUR 400 mln) die in het kwartaal werden gemaakt voor het

FRANCE 8 NOV 2016

Altice to pay EUR 80 mln competition fine for SFR takeover

Altice has reached a settlement with the French Competition Authority, agreeing to accept a fine of EUR 80 million for 'gun-jumping' practices relating to the acquisition of SFR and Virgin Mobile in 2014. The announcement follows an inquiry investigating whether the companies involved had started cooperating on their commercial activities before being given the regulatory green light.

UNITED STATES 3 NOV 2016

Altice USA to raise prices in December

Altice is planning a rate hike at its US operations of around 3.4 percent on average, FierceCable reports. Customers across its Cablevision and Suddenlink service areas will be affected. Altice spokesperson Lisa Anselmo said that the rate increases are largely due to the increased cost of programming on the company's pay-TV service. The higher prices also reflect the company's investments in improving its network, and offering more flexible viewing options.

UNITED STATES 21 OKT 2016

Altice mulling IPO of US cable unit - report

Altice is considering the possibility of expanding its Altice USA cable unit via an initial public offering (IPO), according to unnamed sources cited by Reuters. The unit was created following the acquisition of Cablevision Systems and Suddenlink Communications and is now valued at USD 25-30 billion. Altice is looking to hire underwriters over the comings months and could go public sometime in 2017, said the sources, with one indicating that the IPO could raise close to USD 2 billion. The transaction would

FRANCE 14 OKT 2016

Altice acquires 5.21% of SFR after watchdog blocks buyout

Altice has announced an agreement to acquire 5.21 percent of the shares in its French subsidiary SFR Group to raise its stake to 82.94 percent of SFR's capital. The private off-market transaction will be paid by exchanging 8 Altice shares for 5 SFR Group shares, said Altice. Earlier this month, French stock market regulator the AMF (Autorite des Marches Financiers) ruled against Altice's buy-out offer for the 22.25 percent of SFR shares it did not already own. Altice CEO Michel Combes agreed to withdraw the

GLOBAL 9 AUG 2016

Altice maintains outlook as revenue slide continues

Altice reported a continued slide in revenues in the second quarter, driven by weakness at SFR in France. Total revenues fell 2.6 percent year-on-year to EUR 5.828 billion, while French revenues dropped 4.3 percent to EUR 2.781 billion amid continued subscriber losses at SFR. Growth in the US as well as Portugal helped Altice's adjusted EBITDA increase 2.7 percent to EUR 2.265 billion, and the margin expanded by 2 percent points to 38.9 percent. Free cash flow fell 7.6 percent to EUR 1.157 billion on higher

GLOBAL 11 MEI 2016

Altice revenues fall 2.7% in Q1

Altice reported a fall of 2.7 percent in first-quarter revenue to EUR 4.260 billion, hurt by weakness in its main market France. Revenues were down 6.1 percent to EUR 2.573 billion at SFR in France, while its new US business Suddenlink recorded 9.0 percent higher sales at EUR 570 million. The other international activities grew by 1.3 percent to EUR 1.138 billion. Altice said revenue trends were improving on a sequential basis and it still expects to meet its outlook for 2016 of an improving trend in group

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.