Com Hem Q1 boosted by TiVo
May 2, 2014
Com Hem, the Swedish cable operator, has published its financial and operational results for the first quarter of 2014.
Anders Nilsson, CEO of Com Hem, commented: “During the quarter we saw early signs of our strategic initiatives starting to pay off. With one of Europe’s most advanced networks as a foundation we are in a strong position to put Com Hem back onto a growth trajectory. Our strategy for high-speed broadband in our own infrastructure as well as through LANs and open networks has proven to be successful, with 37 per cent of the customer base now subscribing to 100 Mbit/s or above. In addition, we are seeing strong sales within TiVo, reaching more than 12 per cent of the DTV customer base only six months after launch, a faster development than our international TiVo-peers.”
Highlights of the Q1 results include:
– 0.9 per cent top-line revenue growth versus previous quarter for the second consecutive quarter
– Homes connected at all-time high with 1.83 million households, as expansion outside coax footprint continues
– Continuous growth in number of unique subscribers, now reaching 838,000
– Penetration of TiVo already reaching 12.4 per cent of DTV customer base
– Continued growth in broadband revenue and subscriptions for the quarter adding 12,000 customers in Q1
– Revenue at SEK 1,124 million, an increase of 0.9 per cent compared to Q4 2013 and flat compared to Q1 2013.