ONO: Profits up, subscribers down
November 16, 2010
From David Del Valle in Madrid
Spain’s largest cable company ONO ended the third quarter of the year with 948,000 TV subs, down 1.9 per cent against the previous quarter and 3 per cent lower than last year with a loss of 29,000 in a year.
The fall in its TV subscribers (TV customers represent 52.4 per cent of its total subscribers) comes mainly from the basic package with ONO planning to launch new services through TiVO in an attempt to reverse the situation. As a whole the company has 1.893 million customers, down 0.6 per cent against June’s quarter with broadband Internet customers increasing by 58,000 in a year to 1,361,000 and telephony customers reaching 1,679,000 up 31,000.
Despite the fall in subscribers, the company made a net profit of E43 million to September, up 6.1 per cent against the same period last year. Total revenues were down 3.3 per cent, though, to €1.10 billion with an EBITDA going down 0.5 per cent to €538 million. CAPEX increased by 12.9 per cent to €170 million thanks to the deployment of Docsis 3.0 technology with speeds of 30 and 50 megabits to over four million homes.