Ziggo Q2 up 6.3%
July 20, 2012
Dutch cable operator Ziggo has reported a 6.3 per cent rise in quarterly revenue, boosted by higher subscriptions for bundled TV, Internet and telephony packages.
“We are on track to continue to increase our market share and grow our revenue and EBITDA in the second half of 2012,” chief executive Bernard Dijkhuizen commented.
Ziggo swung to a second-quarter net profit of €64.4 million, after reporting a €14.5 million loss in the first quarter because of the costs of its public offering, setting up a joint venture with Time Warner’s HBO TV scheme, and taxes.
Ziggo, which provides television services to around 55 per cent of all Dutch households, reported revenues of €386.5 millions, up 6.3 per cent, and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of €219 million, 5.9 per cent higher.