Altice Q1 sees “best ever subscriber trends”

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Altice N.V. post-split of Altice USA (to be renamed ‘Altice Europe’) has reported that it is delivering on its plan to improve operational performance, with its Q1 2018 showing the best subscriber trends the group has ever reported.

Highlights include:

    • France total fixed B2C customer base grew for the first time since Altice took control with +71k unique customer net additions in Q1 2018 (vs. -35k losses in Q1 2017), including the best fibre performance (+96k), supported by massive churn reduction and higher gross additions achieved through better operational processes;
    • France B2C mobile postpaid customer base increased by +239k net additions in Q1 2018 (vs. +68k in Q1 2017), representing the best quarterly performance since Altice acquired SFR, achieved through better service quality leading to significant churn improvement;
    • Significant improvement in overall customer satisfaction both in fibre and mobile demonstrating Altice fibre and content investments are key differentiators;
    • Portugal total fixed B2C customer base grew for the second quarter in a row with unique customer net additions in Q1 2018 of +4k (vs. -28k in Q1 2017), supported by further reduction in churn to the lowest level ever. Fibre customer net additions were the highest ever in Q1 2018 with +49k new customers (vs. +31k in Q1 2017), supported by the rapid expansion of fibre coverage; MEO gained market share for the second quarter in a row demonstrating that Altice’s fibre and mobile infrastructure strategy is paying-off;
    • Israel total fixed customer base grew for the first time since acquisition, adding +1k unique customer net additions in Q1 2018 (vs. -3k in Q1 2017) despite the intensification of competition in the market.
  • Altice Europe revenue flat +0.0 per cent YoY on a constant currency (CC) basis in Q1 2018.
  • Altice Europe Adjusted EBITDA2 declined -0.5 per cent YoY on a CC basis in Q1 2018, a margin of 35.7 per cent (-0.4 per cent pts YoY vs. 36.1 per cent in Q1 2017).
  • Significant investment in networks, customer premise equipment and innovative new services with total capital expenditures for Altice Europe of €761 million in Q1 2018 (an increase vs. €687 million in Q1 2017):
    • Leading fibre operator in France reaching over 11 million homes passed as of Q1 2018 and 96 per cent 4G mobile population coverage;
    • Leading fibre operator in Portugal reaching 4.2 million homes passed as of Q1 2018 and 97 per cent 4G mobile population coverage (65 per cent 4G+ mobile population coverage).

Patrick Drahi, founder of Altice N.V., said: “In the first quarter of 2018, Altice Europe has started to deliver on its operational turnaround plan, showing the best subscriber trends Altice has ever reported. Our strategy is paying off, focusing on making our customer experience better through improving processes, infrastructure investments, the best customer premise equipment such as Sofia, and renewed commercial offers with content as a key differentiator.

I am confident that these first initial significant improvements will be further enhanced in the coming quarters. We want to bring the best operational experience and drive the highest level of customer satisfaction which in turn will allow us to achieve our industrial and financial objectives. Altice Europe has tremendous opportunities. We have a unique asset base, fully converged, with premium infrastructure from networks to CPE and content assets, which is now allowing Altice Europe to firstly win back share across markets and consequently return to growth.

In parallel, we have made further progress on the execution of our non-core asset disposal program, which is well advanced and will strengthen our long-term balance sheet position.”

 


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