ONO profits and subs climb
March 15, 2013
From David Del Valle in Madrid
ONO, Spain’s largest cable company, is performing well despite the economic crisis – reporting a profit of €52 million, up 3.9 per cent in comparison with the previous year. Total revenues amounted to €1.573 billion, up 5.9 per cent, mostly due to the increase in revenues in the businesses market with a growth of 37.3 per cent – up to €425 million.
EBITDA remained steady at €752 million against €748 million in 2011 with investments growing by 2.6 per cent to €299 million due to the extension of its network and the development of the smart TV service TiVo with around 100,000 subs.
ONO ended 2012 with 4.725 million subs, up 2.2 per cent and claims to be the leader in high speed Internet access with services at 30, 50, 100 and 200 Mbps. Almost 50 per cent of its subs, 700,000, enjoy these high speed internet services, according to the company.