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Ono profits slump in Q1

May 6, 2011

From David Del Valle in Madrid

Spanish cable operator Ono’s first-quarter revenues fell 2.2 per cent to €364 million with a net income dropping to €9 million, down almost 45.1 per cent from €17 in March 2010. First-quarter EBITDA amounted to €179 million, representing a 1.9 per cent increase over the same period last year, as a result of its costs-cut policy.

Ono’s residential cable customer base was flat year-on-year at 1.82 million users. At the end of March, the company had 1.70 million telephony customers. Around 93.7 per cent of the operator’s total customer base uses voice services, up from 91.8 per cent in the year-ago quarter. As of March 31st 2011, nearly 84 per cent of Ono’s residential fibre customers subscribed to a bundled package and over 39.5 per cent subscribed to a triple play bundle, the highest ratio ever, according to the company.

Ono had around 1.40 million broadband users, up 4.7 year-on-year, accounting for 77.2 per cent of Ono’s overall customer base. Ono had some 959,000 pay-TV subscribers at the end of March, down by 1.2 per cent year-on-year with an ARPU going up to €51.0 from €51.5 in the first quarter of 2010.

To capture more subscribers, the company is now launching a 100 megabytes broadband access offer for €94 a month. At the present time, the company is offering 50 megabytes in over six million homes.

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