ALTICE - FIRST QUARTER 2014 RESULTS: Strong financial performance driven by margin expansion in International business

ALTICE - FIRST QUARTER 2014 RESULTS Strong financial performance driven by margin expansion in International business May 16, 2014: Altice SA (Euronext: ATC NA), today announces financial and operating results for the quarter ended March 31, 2014. Strong pro forma(1) EBITDA and Cash Flow growth * EUR828m Revenue, down 2.0% (down 1.1% on CC(2) basis) * EUR502m International Revenue, down 3.6% * EUR326m France Revenue, up 0...

ALTICE - FIRST QUARTER 2014 RESULTS

Strong financial performance driven by margin expansion in International business

May 16, 2014: Altice SA (Euronext: ATC NA), today announces financial and operating results for the quarter ended March 31, 2014.

Strong pro forma¹ EBITDA and Cash Flow growth

• EUR828m Revenue, down 2.0% (down 1.1% on CC² basis)
  • EUR502m International Revenue, down 3.6%
  • EUR326m France Revenue, up 0.4%
• EBITDA of EUR367m, up 6.5% (up 7.4% on CC basis)
  • EUR215m International EBITDA, up 11%
  • EUR153m France EBITDA, up 1.2%
• EBITDA margin expanded by 3.6% pts to 44.4%
  • International margin expanded by 5.4% pts to 42.7%
  • France margin up slightly to 46.9%
• Operating Free Cash Flow³ of EUR201m, up 5.4% (up 6.9% on CC basis)

 

Major strategic progress

• France: Agreed purchase of SFR, to combine with Numericable
  • Raised EUR16bn debt for SFR transaction, including refinancing EUR2.6bn Numericable debt
  • Agreed to issue EUR0.8bn new Altice equity⁴ and pay EUR529m cash to Carlyle and Cinven for their Numericable stake, increasing Altice stake from 40% to 75% pre-SFR deal
  • Numericable in exclusive negotiations to buy Virgin Mobile
• International: Acquisition of both Tricom and Orange Dominicana in Dominican Republic closed, creating integrated cable/mobile business with strong market share and growth opportunities

 

 

Key operational progress

• France: Customer and ARPU growth driving 1.7% cable revenue growth
• Israel:
  • Strong triple-play, hi-speed broadband and mobile UMTS sub growth
  • Cost restructuring driving 23% EBITDA growth and 10% pts increase in EBITDA margin to 47.9%
• Dominican Republic:
  • 7% mobile and 6% cable customer growth
  • Efficiencies driving 3.9% pts increase in EBITDA margin to 40.3%
• French Overseas Territories:
  • 10% postpaid mobile customer growth; 7% mobile ARPU growth
  • Integration of Outremer Telecom driving 11% EBITDA growth

 

Dexter Goei, Chief Executive Officer of Altice, said: "We began the year strongly, both operationally and financially. Integration of the companies we acquired last year continues to go well, driving improved margins and strong cash flow growth.

We are delighted to have agreed the purchase of SFR in France and to have closed our acquisitions in the Dominican Republic. We see strong growth opportunities in both these areas and across our portfolio."

Contacts

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

Media (Havas)
Charles Fleming: +33 (0)614 450522 / [email protected]

Conference call details

The company will host a conference call and webcast to discuss the results at 4pm CET today.

Webcast: www.media-server.co/m/p/kaufxk3t

Conference call dial in: +44 (0)20 3427 1919 / +1 646 254 3363
Confirmation code: 9909055

 

Copyright GlobeNewswire

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