Multinational telco and media company Altice has reported a successful year of execution for 2016 including the rapid integration of US businesses and transformation into leading transatlantic, converged telecoms and media operator.
All businesses across Altice Group recorded positive revenue growth, marking the best quarterly performance in Q4 since Altice’s IPO. Altice Group Revenue, at €6.087 billion, was up 2.7 per cent year-on-year.
Some 9 million homes were upgraded for higher speed broadband services across Altice Group in 2016, with Altice claiming to be the leading fibre operator in France reaching 9.3 million homes passed at the end of 2016 (+1.6 million additional homes YoY), targeting 11 million homes passed by end-2017 and 22 million by 2022.
Michel Combes, Chief Executive Officer of Altice, said: “2016 was a pivotal year for Altice as we successfully transformed the Group into a leading, transatlantic converged communications player. Our business is stronger than ever and we have put all the building blocks in place for continued profitable growth.”
“Our 2016 performance has validated the Altice Model as we’ve been very focused on execution, seeing an advanced turnaround in Europe and stronger US performance. Indeed, since Altice took control of the major businesses it has acquired, France and Portugal have returned to revenue growth for the first time in many years, and growth in the US has significantly accelerated. This growth has been driven by our clear strategy:
“We are proud of our global network commitments – during 2016 we upgraded over 9 million homes for higher speed broadband services and more than doubled the number of 4G mobile sites in France. We have a leading commitment to fibre with rapid deployments across the Group and technological innovation well in advance of our peers. All of this investment is being facilitated by driving significant efficiency savings across every one of our businesses, supported by completing our internal reorganisation to leverage our new scale. The combination of growth and margin expansion confirms our original investment thesis when we entered all of the markets where we now have operations. We firmly believe this strategy will continue to support our growth well into the future.”