DGAP-News: Kabel BW again delivers strong growth
(firmenpresse) - DGAP-News: Kabel BW Erste Beteiligungs GmbH / Key word(s): Half Year
Results
Kabel BW again delivers strong growth
18.08.2011 / 10:02
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Kabel BW again delivers strong growth
- Double-digit total revenue1) and income growth in H1 against previous
year
- Half-year total revenue1): +10.7% to EUR 300.2 million
- Adjusted EBITDA up 16.3% to EUR 175.4 million
- Internet/Telephony customers: +25% to 740k
- Pay TV RGUs: +39% to 324k
Heidelberg. Kabel BW remains on a strong growth path in the first half of
2011. The company generated total revenue (including other operating
income) of more than EUR 300 million for the first time ever in a six-month
period and also increased the adjusted EBITDA margin to more than 58%.
Overall, revenue1) in the first half of the year was up 10.7% compared to
the prior-year period and reached EUR 300.2 million (H1 2010: EUR 271.3
million). Adjusted EBITDA saw above-average growth of 16.3% to EUR 175.4
million, another new record (H1 2010: EUR 150.8 million). The adjusted
EBITDA margin was 58.4% (H1 2010: 55.6%).
Continuing strong customer growth
The company also succeeded in maintaining its high pace of new customer
growth: The number of Internet/Telephony customers rose by approximately
25% against the end of June 2010 to 740k (30 June 2010: 590k). In the
mobile business, the number of contracts including tariff options climbed
to 62k. Kabel BW also gained RGUs in the Pay TV business, recording 324k or
approximately 39% more RGUs than last year (30 June 2010: 233k). The
average revenue per customer and month (ARPU) increased from EUR 17.6 in
the second quarter of 2010 to EUR 19.0 in the second quarter of 2011. 'The
number of our Internet/Telephony customers is constantly growing and we are
gaining market share every month. The secret of our business model's
success is in the combination of high profitability and an excellent
price/performance ratio for our customers,' said Harald Rösch, CEO of Kabel
BW.
The company will host a conference call and webcast for registered
institutional investors and analysts from 15:00-16:00 CEST. The complete 6
Months Report 2011 will be available for download on the Investor Relations
website of Kabel BW (http://ir.kabelbw.com) from 14:00 CEST today. Please
note that the majority of the information published on the IR website will
be password protected. Kabel BW thus suggests an early registration for a
password to its investors.
Key financial and operating figures compared by half year
(unaudited, financial information according to IFRS)
H1 H1 Change Change1)Including other operating income
2010 2011 (abs) (in %)
Total revenue and other operating 271.3 300.2 +28.9 +10.7
income2) in EUR m
Av. revenue per customer and month 17.6 19.0 +1.4 +8.0
(ARPU) in EUR3)
Adjusted EBITDA4) (in EUR m) 150.8 175.4 +24.6 +16.3
Adjusted EBITDA margin5) (in %) 55.6 58.4 +2.8
EBIT (in EUR m) 78.2 100.4 +22.2 +28.4
EBIT margin5) (in %) 28.8 33.4 +4.6
Internet/Telephony customers as of 590 740 +150 +25
30 June (in k)
Pay-TV-Abos (RGUs) as of 30 June (in 233 324 +91 +39
k)
Basic cable customers as of 30 June 2,306 2,321+15 +1
(in k)
Unique customers as of 30 June (in 2,327 2,375 +48 +2
k)
2)Other operating income: Income from release of provisions and accruals,
income from dunning charges,
income related to other periods and sundry other operating income
3) ARPU for the second quarter in each case
4) Adjusted EBITDA: Adjusted EBITDA, which is not a defined term under
IFRS, is used by management to evaluate the Group's performance. Prior-year
figures include pro-forma adjustments in accordance with IFRS for purposes
of comparison. Adjustment includes EUR 4.0 million from one-time charges
for the first half of 2011 and one-time gains of EUR 1.4 million for the
first half of 2010.
5)Adjusted EBITDA and EBIT in per cent of total revenue and other
operating income
About Kabel BW:
Kabel BW is Baden-Württemberg's innovative, high-growth provider of fast
Internet access, telephony service, and TV (Triple Play). With 2.4 million
customers, Kabel BW now ranks as one of the largest cable operators in
Europe and serves half of all households in Baden-Württemberg. Kabel BW
provides attractive packages offering excellent price performance ratios
and very high Internet bandwidths (up to 100 Mbit/s), as well as flat-rate
telephony service. Following large-scale modernization of the network, 99
per cent of the 3.6 million homes connected in Baden-Württemberg can
already take advantage of the 'CleverKabel' offers. In the modernized cable
network, there is a total of more than 5 Gbit/s (5,000 Mbit/s) available
per household for Internet access, telephony service, and TV. Currently,
Kabel BW customers can receive up to 400 TV programs (and 36 HDTV
broadcasters) and 150 radio channels via analog and digital transmission.
Kabel BW also offers its own video-on-demand services with the 'Kabel BW
Videothek'.
For further information please contact:
Kabel BW Investor Relations:
Nicole Stein und Caroline Hernler, Tel.: +49 (6221) 333-1020,
ir(at)kabelbw.com
http://ir.kabelbw.com
Kabel BW Public Relations:
Maurice Böhler und Melanie Degueldre-Beyer, Tel.: +49 (6221) 333-2060,
presse(at)kabelbw.com
http://presse.kabelbw.com
Disclaimer:
This IR release may contain statements regarding the future development of
Kabel BW. These forward-looking statements are based on the current
expectations, assumptions, and forecasts of the board of management and the
information currently available to it and have been made according to the
best of its knowledge and belief. With respect to such forward-looking
statements, Kabel BW can neither provide any guarantee nor assume any
liability for the realization of the future developments and results
referred to in those statements. Future developments and results depend on
a large number of factors. These involve risks and uncertainties that are
beyond the influence of the company and are based on assumptions that may
prove to be incorrect or irrelevant. Without prejudice to any legal
obligations to amend forecasts, we assume no obligation to update the
forward-looking statements made in this report.
Contact:
Caroline Hernler
Nicole Stein
Investor Relations
Kabel BW GmbH
Im Breitspiel 2-4
69126 Heidelberg
Telefon: +49 (6221) 333 1020
E-Mail: ir(at)kabelbw.com
www.kabelbw.de
End of Corporate News
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136135 18.08.2011
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