ONO profits up despite fall in pay TV subs

Spain’s largest cable company ONO remained in the black in 2011 for the third consecutive year. The company made a profit of €50 million, up 7.8 per cent on the previous year. Total revenues increased by 1 per cent to €1.485 billion and the EBITDA grew by 3.2 per cent to €348 million.

The launch of broadband high speed services and the introduction of the TiVo service in Madrid and Barcelona, and now in Valencia and other Spanish cities, have given a boost to total revenues. The company also increased its CAPEX by 19.4 per cent to €292 million to implement Docsis 3.0 technology, and improve its fibre network. ARPU grew by 1.6 per cent, standing at €52.4.

ONO ended 2011 supplying a total of 4.41m services, a 2.3 per cent increase compared to December 31st, 2010. The company achieved good sales figures in almost every area, but television is down with ONO losing 1.8 per cent of subscribers in the fourth quarter to end the year with a 3.2 per cent drop in its subscriber base to a total of 923,000 pay-TV customers.

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