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Com Hem has published its operating and financial results for the full year and fourth quarter of 2013.
According to the Swedish cable operator, 2013 was a transitional year. Specifically, Com Hem delivered on four key strategic objectives to restore growth. In addition to the October launch of TiVo, Com Hem grew broadband subscribers and revenue, completed a significant B2B acquisition and saw a record number of homes connected.
On October 7th 2013, Com Hem launched its TiVo product into the Swedish market. The company sold 38,000 new TiVo subscriptions, representing 6 per cent of the DTV as of December 31 2013.
“TiVo is important to Com Hem as it is the key to restoring growth in our DTV business. The combination of the powerful TiVo platform and our broad content offers provide the strongest TV product available in our market,” said Andrew Barron, Executive Chairman, Com Hem AB.
At year-end 2013, Com Hem broadband subscribers reached record high of 558,300, an increase of 15,000, or 2.8 per cent, on Q4 2012. The August launch of a 500 Mbit/s service also contributed to an increase in customers taking 100Mbit/s or above, to 35 per cent of the base. This demand for higher speeds is in turn driving modest revenue growth. Broadband revenue was up 2.2 per cent from Q4 2012 to Q4 2013 in a competitive market.
During the year, Com Hem strengthened its position as a service supplier through a number of new agreements with Open Nets and Metropolitan Area Networks. Together with new agreements with property owners, this has resulted in a record 1,820,000 connected homes at year end 2013, an increase of 70,000 homes over year end 2012.