ALTICE - THIRD QUARTER 2014 RESULTS
(Thomson Reuters ONE) -
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 ?832m, down 0.3% (down 0.7% on CC(2) basis)
* ?504m International Revenue, down 2.3% (down 3.0% on CC basis)
* ?329m France Revenue, up 3.0%
* EBITDA of ?396m, up 12% (up 12% on CC basis)
* ?239m International EBITDA, up 17% (up 16% on CC basis)
* ?158m 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 Flow(3) down 0.8% at ?195m
* ?125m International OpFCF up 9.4% (up 8.6% on CC basis)
* ?70m France OpFCF down 15%
Strategic progress
* France
* Acquired 34.6% Numericable stake from Carlyle & Cinven
* Issued 25m Altice SA shares; will pay ?529m 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."
Notes: (1) Year-on-year comparisons are pro forma for all completed
acquisitions. (2) Constant currency. (3) Defined as EBITDA less Capital
Expenditure.
Contacts
Investor Relations
Richard Williams: +44 (0)7946 348939 / richard.williams(at)altice.net
Media
Arthur Dreyfuss: +41 79 946 4931 / arthur.dreyfuss(at)altice.net
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
Earnings Release as PDF:
http://hugin.info/156399/R/1871334/658380.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Altice SA via GlobeNewswire
[HUG#1871334]
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" alt="Avino Reports Third Quarter 2014 Financial ResultsDatum: 14.11.2014 - 08:02 Uhr
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