ONO losses subs and profit on quarter
November 27, 2008
From David Del Valle in Madrid
Spain’s largest cable operator ONO lost 19,000 subs in the third quarter which the company blamed on the deteriorating economic environment and a lack of commercial activity during summer time.
ONO ended the third quarter with 1,935,636 total subs, with telephony experiencing the sharpest decline losing more than 7,000 customers. The company managed to add only 5,000 subs to its TV service up to 1,057,422 subs with a penetration rate of 15.2 per cent. ARPU amounted to E52.4 against E53.3 in the previous quarter.
ONO achieved revenues of E396 million for Q3, or 3 per cent less than in the previous quarter and 2.1 per cent less than in the corresponding quarter in 2007. The EBITDA was E180 million, 0.3 per cent less than in the previous quarter and 4.5 per cent down on a year earlier. ONO's EBITDA has risen by 8.8 per cent in the first nine months of this year, revenues are down by 0.9 per cent.