ALTICE - SECOND QUARTER 2014 RESULTS

ALTICE - SECOND QUARTER 2014 RESULTS Strong EBITDA growth driven by cost restructuring in International business August 7, 2014: Altice SA (Euronext: ATC NA) today announces financial and operating results for the quarter ended June 30, 2014. Strong pro forma(1) EBITDA growth * Revenue of EUR837m, down 1.3% (up 0.7% on CC(2) basis) * EUR502m International Revenue, down 3.8% (down 0.6% on CC basis) * EUR335m France Revenue, up 2...

ALTICE - SECOND QUARTER 2014 RESULTS

Strong EBITDA growth driven by cost restructuring in International business

August 7, 2014: Altice SA (Euronext: ATC NA) today announces financial and operating results for the quarter ended June 30, 2014.

Strong pro forma¹ EBITDA growth

• Revenue of EUR837m, down 1.3% (up 0.7% on CC² basis)
  • EUR502m International Revenue, down 3.8% (down 0.6% on CC basis)
  • EUR335m France Revenue, up 2.8%
• EBITDA of EUR383m, up 8.5% (up 10% on CC basis)
  • EUR225m International EBITDA, up 13% (up 17% on CC basis)
  • EUR158m France EBITDA, up 2.7%
• EBITDA margin expanded by 4.1% pts to 45.8%
  • International margin expanded by 6.6% pts to 44.9%
  • France margin flat at 47.2%
• Operating Free Cash Flow³ of EUR202m, up 8.0% (up 10% on CC basis)
  • EUR132m International OpFCF up 35% (up 40% on CC basis)
  • EUR70m France OpFCF down 21%

 

Strategic progress

• France
  • Signed purchase agreements for SFR and Virgin Mobile
    • Regulatory process on schedule and proceeding as expected
  • Increased Numericable stake to 74.6% ahead of rights issue
    • EUR122m paid for call options for 2.6% Numericable stake
    • Acquired 34.6% Numericable stake from Carlyle & Cinven
    • Issued 25m Altice SA shares; will pay EUR529m cash to C&C
• Altice SA
  • Completed equity capital raise of EUR911m (18m shares)

 

Key operational progress

• France: Customer growth driving 2.4% cable revenue growth
• Israel
  • Strong triple-play, hi-speed broadband and UMTS sub growth
  • Slowing cable customer losses
  • Cost restructuring driving 14% EBITDA growth
• Dominican Republic:
  • 7% mobile and 8% cable customer growth
  • Cost savings/synergies driving 6.9% pts increase in EBITDA margin
• French Overseas Territories:
  • 10% postpaid mobile customer growth; 5.1% mobile ARPU growth
  • Cost savings/synergies driving 24% EBITDA growth

 

Dexter Goei, Chief Executive Officer of Altice, said: "We drove strong EBITDA and cashflow growth in the second quarter, as we continued our successful strategy of driving cost efficiencies, particularly in Israel, the Dominican Republic and the French Overseas Territories."

 

Contacts

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

Media
(Havas) Arthur Dreyfuss: +33 (0)624 497717 / [email protected]

Conference call details

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

Webcast:  http://www.media-server.com/m/p/cnyhn3ug

Conference call: UK:   +44(0)20 3427 1904  USA: +1 718 354 1158
Confirmation Code:        6098960

Copyright GlobeNewswire

Attachment(s)
http://hugin.info/156399/R/1847073/644085.pdf

Regulatory News
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: %s via Globenewswire


[HUG#1847073]