Altice raises subs
March 15, 2016
Altice, the French telco group in the midst of buying Cablevision Systems for $10 billion, said it expects an improving trend in revenue in 2016 after its home unit achieved subscriber growth in the final quarter of 2015.
The company reported flat revenue year-over-year at €17.5 billion. Its French mobile phone and cable business SFR, accounting for more than half of Altice’s sales, said revenue fell 3.5 per cent to €11.04 billion, while revenue at Portugal Telecom dropped 7.3 per cent to €2.34 billion as Altice worked to restructure the two units.
Overall, Altice reported an 18 per cent year-over-year rise in adjusted earnings before interest, taxes, depreciation and amortisation – something analysts say is an important measure of the firm’s performance – to €6.67 billion.
“We have strengthened our management team and during 2016 we will continue to be very focused on further improving operational and financial performance, integrating the businesses we have acquired and pursuing the efficiency target we have set out,” said Chief Executive Dexter Goei.