ONO: ‘Solid 2013’
March 17, 2014
As news headlines concentrated on its possible IPO or sale to Vodafone, Spanish quad play operator ONO has released its Full Year 2013 results, which it described as ‘solid’. It also confirmed it is looking at launching an online service.
As of December, 31, 2013, it offered our services to 7.2 million homes across Spain, including the nine largest cities, with over 5.2 million retail services to more than 1.9 million customers in Spain.
For the quarter ended December 31, 2013, the company generated net revenues of €415 million, EBITDA of €157 million (Adjusted EBITDA of €156 million), and €77 million of Operating Free Cash Flow.
For the year ended December 31, 2013, it generated net revenues of €1.598 billion, EBITDA of €686 million (Adjusted EBITDA of €680 million), Operating Free Cash Flow of €422 million and Free Cash Flow of €57 million.
As of December 2013, ONO had over 323,000 TiVo services, which represent 41 per cent of its TV customer base. “We believe that the TiVo results so far suggest positive market acceptance as showcased by the positive momentum in customer acquisitions, low churn levels and high satisfaction metrics,” it said, confirming that it intends to continue improving its pay-TV offering in the near future with the development of new products and services such as TV online. “We believe this will help us to increase the number of our TV customers and revenues going forward,” it added.
Commenting on the results, Rosalía Portela, ONO’s CEO, said: “We achieved solid results in 2013 while adapting the telecommunications and business model that we offer to customers. ONO achieved a remarkable increase in contracted services and the number of customers at the end of the year.”