Tele Columbus lowers costs to up profit
May 21, 2020
Germany’s Tele Columbus has reported flat year-on-year turnover of €115 million for the first quarter. But EBITDA was up 17 per cent to €55.5 million on lower non-recurring costs.
Declines in TV subscribers were compensated by an increase in B2B revenue.
Tele Columbus, which operates under the PŸUR brand, had 2.184 million cable TV subscribers, down 85,000 year-on-year, 585,000 internet customers, up 10,000, and 430,000 telephony customers, down 5,000. Premium TV customers were down 11,000 to 540,000.
Daniel Ritz, CEO, said: “Our first quarter results display a solid start into the year, unaffected by Covid-19, with growth in Reported EBITDA year-on-year in line with internal expectations. We are thus today confirming our guidance for fiscal year 2020, but continue to closely monitor the situation and will update the market with our half-year report in August.”