BRUSSELS--Belgian cable provider Telenet NV (TNET.BT), which is
majority owned by Liberty Global, said profit rose in the first
quarter as revenue increased on growth in the mobile sector.
MAIN FACTS:
-Revenue of EUR405.6 million, up 11% year-on-year, driven by a
growing contribution from our mobile operations and continued
growth in fixed services.
-Adjusted earnings before interest, tax, depreciation and
amortization, Ebitda, of EUR201.5 million, up 5% year-on-year,
affected by seasonally higher costs associated with handset sales
and subsidies. Margin of 49.7%.
-Net profit EUR38.4 million, up from EUR12.2 million a year
earlier.
-Chief Executive John Porter: "For the full year 2013, we
reaffirm our outlook, including expected revenue growth of "between
10 and 11%," adjusted Ebitda growth "between 7 and 8%," accrued
capital expenditure accounting for "21‐22% of revenue" and a
"stable" free cash flow.
-Company remains cautious as Belgian regulatory environment
developing: "We remain careful about the intensely competitive
environment both in fixed and mobile services, the side effects of
the current macro‐economic backdrop and the potential impact of
regulated cable wholesale services later this year."
Write to Frances Robinson at frances.robinson@dowjones.com
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