ALTICE - THIRD QUARTER 2014 RESULTS

ALTICE - THIRD QUARTER 2014 RESULTS Strong EBITDA growth driven by cost restructuring in International business November 14, 2014: Altice SA (Euronext: ATC NA) today announces financial and operating results for the quarter ended Sept 30, 2014. Strong pro forma(1) EBITDA growth * Revenue of EUR832m, down 0.3% (down 0.7% on CC(2) basis) * EUR504m International Revenue, down 2.3% (down 3.0% on CC basis) * EUR329m France Revenue, up 3...

ALTICE - THIRD QUARTER 2014 RESULTS

Strong EBITDA growth driven by cost restructuring in International business

November 14, 2014: Altice SA (Euronext: ATC NA) today announces financial and operating results for the quarter ended Sept 30, 2014.

Strong pro forma¹ EBITDA growth

• Revenue of EUR832m, down 0.3% (down 0.7% on CC² basis)
  • EUR504m International Revenue, down 2.3% (down 3.0% on CC basis)
  • EUR329m France Revenue, up 3.0%
• EBITDA of EUR396m, up 12% (up 12% on CC basis)
  • EUR239m International EBITDA, up 17% (up 16% on CC basis)
  • EUR158m France EBITDA, up 5.8%
• EBITDA margin expanded by 5.3% pts to 47.6%
  • International margin expanded by 7.8% pts to 47.4%
  • France margin up 1.3% pts to 48.0%
• Operating Free Cash Flow³ down 0.8% at EUR195m
  • EUR125m International OpFCF up 9.4% (up 8.6% on CC basis)
  • EUR70m France OpFCF down 15%

 

Strategic progress

• France
  • Acquired 34.6% Numericable stake from Carlyle & Cinven
    • Issued 25m Altice SA shares; will pay EUR529m cash to C&C by end of Jan-15
  • Numericable rights issue completed
     
• Altice SA
  • Made fully financed binding offer for Portugal Telecom

 

Key operational progress

• France
  • Customer growth driving 3.0% cable revenue growth
  • Continuing shift to hi-speed broadband
• Israel
  • Strong triple-play, hi-speed broadband and UMTS sub growth
  • Losing single and dual-play customers
  • Cost restructuring driving 7% pts increase in EBITDA margin to 49.2%
• Dominican Republic:
  • Cost savings/synergies driving 14% pts increase in EBITDA margin to 52.5%
  • 11% cable customer growth; 15% mobile postpaid sub growth

 

 

Dexter Goei, Chief Executive Officer of Altice, said: "We drove strong EBITDA growth in the third quarter as we continued our successful strategy of driving cost efficiencies, particularly in the Dominican Republic and Israel. We look forward to closing the SFR transaction in France at the end of the month and beginning to drive the anticipated synergies."

 

 

 

Contacts

Investor Relations
Richard Williams:   +44 (0)7946 348939 / [email protected]

Media
Arthur Dreyfuss: +41 79 946 4931 / [email protected]

Conference call details

The company will host a conference call and webcast to discuss the results at 2pm CET today.

Webcast: http://www.media-server.com/m/p/hp8kcx2y

Conference call:

UK:   +44(0)20 3427 1915

USA: +1 646 254 3361

Confirmation Code:        3652036

Copyright GlobeNewswire

Attachment(s)
http://hugin.info/156399/R/1871334/658380.pdf

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