Spain: Ono down in subs, but with profits

Spain’s largest cable operator, Ono, continues losing subs but achieved profit in the third quarter of the year. The company’s residential cable customer base declined by 1.7 per cent year-on-year to 1.7 million users.

Around 95.5 per cent of Ono’s customer base use voice services, up from 95.2 per cent a year earlier, with the operator reporting 1.59 million telephony customers in total. Ono had 1.35 million Internet users at September 30th, down 1.6 per cent year-on-year and accounting for 81.3 per cent of the operator’s customer base. Pay-TV subscribers decreased by almost 23,000 in the quarter, representing a 2.8 percent year-on-year drop to 795,000. ARPU also declined by 1.3 per cent year-on-year to €52.5 in the third quarter.

Ono saw its net profit for the period rise to €4 million compared with the €6 million loss it posted in the third quarter of 2012. Nevertheless, the operator saw its revenues dip by 2 per cent in the third quarter to €384 million from €392 million a year earlier. EBITDA came in at €172 million, a 9.3 per cent decline over the same period last year, while the EBITDA margin dropped to 44.8 per cent from 48.4 per cent in the third quarter of 2012. Net debt narrowed slightly to €3.3 billion in September this year compared with € 3.4 billion in September 2012.

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