KDG sinks on loss
Kabel Deutschland, Germany’s largest cable operator, reported full-year revenue at the low end of its forecast and announced a lower dividend than anticipated; the shares fell over 5 per cent in early trading. The company said that Chief Financial Officer Paul Thomason won’t renew his contract when it expires in March next year.
The full-year net loss was €45 million, compared with a loss of €40 million a year earlier. Earnings were stunted by €48.8 million in costs related to refinancing debt. For the current year Kabel Deutschland predicts EBITDA to be in a range of €790 million to €800 million up from from €729 million last year. Sales will increase by a range of 6.25 per cent to 6.75 per cent this year, the company said.
In 2010 1.38 million were gained for voice and Internet up 22.2 per cent YonY. Pay TV added 1.26 million, up 17.8 per cent. About half of it networks (6m homes) now have DOCSIS 3.0, 100mbps available and it aims to have it available to 10 million homes by the end of this year.