Tele Columbus: “IPO a success”
May 12, 2015
Tele Columbus Group, the third largest German cable network operator, started the financial year 2015 with gains in all relevant key figures. Revenues grew by 2.2 per cent year on year to €53.6 million in the first quarter of 2015. Normalised EBITDA grew significantly by 11.7 per cent year on year to €24.4 million in Q1 2015, showing continuously strong momentum. Operating margin improved to 45.5 per cent of revenue in Q1 2015 compared to 41.6 per cent in Q1 2014. Tele Columbus continues to invest in its network and technology capabilities. This is reflected in Q1 2015 capital expenditures (Capex) of €15 million which is more than twice the Q1 2014 Capex of €6 million.
“The successful IPO of Tele Columbus in January was clearly this year’s most important event so far to support our growth strategy”, says Ronny Verhelst, CEO of Tele Columbus. “In the first quarter of 2015, we continued our profitable growth, based on our clearly defined strategy and our superior cable network. We focused on further network migration and up- and cross selling of additional products to our strong customer base, thereby continuing to strengthen our market position.” Ongoing demand for fast internet access and new products drives growth The ongoing growth is particularly due to Tele Columbus’ high-performance network and the company’s success in selling new products to existing customers. As of 31 March 2015, approximately 56 per cent of Tele Columbus’ homes connected were upgraded for two-way communication and connected to its own Level 3 network, compared to 55 per cent at the end of the previous year and 53 per cent in 31 March 2014.