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Tele Columbus, the third largest German cable operator, has published its preliminary financial results for the fourth quarter and full fiscal year 2016 reporting strong growth during the fiscal year with accelerating momentum towards the end of the year. The company met or even exceeded all financial targets previously communicated for the fiscal year 2016: revenues grew by 3.9 per cent to €478.7 million compared to the pro forma result of 2015, while Normalised EBITDA increased by 7.1 per cent from €233.8 million to €250.3 million.
In the fourth quarter of fiscal year 2016, the Company showed a solid year-on-year increase in quarterly revenues of 3.4 per cent to €124.6 million.
The strong financial performance was supported by robust operational output, with particular strength towards the end of the year. In the fourth quarter 2016, the Group was able to boost Internet net adds to 20,000 RGUs, well above the 15,000 net adds in the third quarter of the fiscal year and resulting in total Internet net adds for the year of 58,000. At year-end 2016, the company counted a total of more than 520,000 Internet RGUs. Homes connected were stable year on year at 3.6 million homes connected in line with the Company’s guidance. The number of upgraded homes reached 63.3 per cent which is 1.0 ppt up versus September 30th 2016 and fully on track towards the guided 71 per cent in the medium term.
Based on these results, the Tele Columbus Management Board is very confident to continue to drive the growth of the Group in 2017. “Our strong 2016 results prove that we have set the right strategic initiatives pushing organic growth, expanding the B2B business, pursuing further network acquisition opportunities and driving synergies from our integration process”, commented Ronny Verhelst, CEO of the Tele Columbus Group. “While we have entered a new dimension developing the Tele Columbus Group into a digital entertainment company with the introduction of our new advanceTV platform, we will continue to drive our core broadband business with undiminished investments in our infrastructure. And our story will become even more compelling with the launch of a new consumer brand towards the second half of 2017.”