Kabel BW Erste Beteiligungs GmbH
Kabel BW shows strong growth in Q1
Kabel BW Erste Beteiligungs GmbH / Key word(s): Quarter Results Kabel BW shows strong growth in Q1 – Revenue and other operating income: + EUR 17 million to EUR 150 million (+13% yoy) – Adjusted EBITDA: + EUR 12 million to EUR 87 million (+16% yoy) – Internet and Telephony customers: +147k to 705k (+26% yoy) – Pay TV RGUs: +98k to 308k (+47% yoy) Heidelberg, 26 May 2011. Germany’s third largest cable operator Kabel BW has released its first quarter results for 2011. Revenue and other operating income increased by approximately EUR 17 million in the first quarter of 2011 to EUR 150 million (Q1 2010: EUR 133 million). The average revenue per customer and month (ARPU) increased from EUR 17.1 in the first quarter of 2010 to EUR 18.8. Once again Kabel BW has over-proportionally increased the adjusted EBITDA: with EUR 87 million the company succeeded previous year’s level by 16 per cent (Q1 2010: EUR 75 million). Thus Kabel BW improved its adjusted EBITDA margin to 58 per cent (Q1 2010: 56 %). Since the end of March 2010, Kabel BW has gained approximately 147k more Internet and telephony customers for a total of 705k customers, an increase of 26 per cent. In the first quarter of 2011 this number increased by 41k customers, exceeding the average growth of the preceding three quarters (approximately +35k). Kabel BW posted an exceptionally large growth rate of 47 per cent in the Pay TV business, with 98k more RGUs for a total of 308k (March 31 2010: 210k). Positive results continued to accrue from the rapidly growing number of rental HD receivers and HD recorders, from Kabel BW’s own pay TV package ‘MeinTV,’ and from the partnership with Sky. The total number of customers grew from 2.316 million in the first quarter of 2010 to 2.368 million in the first quarter 2011. Currently, about 30 per cent of all TV customers also use Internet and telephony services from Kabel BW. ‘We maintained our high rate of growth in the first quarter, and we’re tapping into additional potential for growth with video on demand, the expansion of the cell phone business, and the development of the business customer segment,’ said Harald Rösch, CEO of Kabel BW. The complete first 3 Months Report 2011 will be available for download on the Investor Relations website of Kabel BW (http://ir.kabelbw.com) from 15:00 CET today. The company will host a conference call for registered institutional investors and analysts at 16:00 CET. Please note that the majority of the information published on the IR website will be password protected. Kabel BW thus suggests an early registration for a password to its investors. Key Financial and Operating Figures Compared by Quarter (according to IFRS, unaudited)
* Other operating income: Material sales from stock, received commissions, received bonuses, advertising subsidies and other For further information please contact: Kabel BW Investor Relations Kabel BW Public Relations About Kabel BW: Kabel BW is Baden-Württemberg’s innovative, high-growth provider of fast Internet access, telephony service, and TV (Triple Play). With 2.4 million customers, Kabel BW now ranks as one of the largest cable operators in Europe and serves half of all households in Baden-Württemberg. Kabel BW provides attractive packages offering excellent price performance ratios and very high Internet bandwidths (up to 100 Mbit/s), as well as flat-rate telephony service. Following large-scale modernization of the network, 99 per cent of the 3.6 million cable-equipped households in Baden-Württemberg can already take advantage of the ‘CleverKabel’ offers. In the modernized cable network, there is a total of more than 5 Gbit/s (5,000 Mbit/s) available per household for Internet access, telephony service, and TV. Currently, Kabel BW customers can receive up to 400 TV programs (and 30 HDTV broadcasters) and 150 radio channels via analog and digital transmission. Kabel BW also offers its own video-on-demand services with the ‘Kabel BW Videothek.’ Disclaimer: This press release contains statements regarding the future development of Kabel BW. These forward-looking statements are based on the current expectations, assumptions, and forecasts of the board of management and the information currently available to it and have been made according to the best of its knowledge and belief. With respect to such forward-looking statements, Kabel BW can neither provide any guarantee nor assume any liability for the realization of the future developments and results referred to in those statements. Future developments and results depend on a large number of factors. These involve risks and uncertainties that are beyond the influence of the company and are based on assumptions that may prove to be incorrect or irrelevant. Without prejudice to any legal obligations to amend forecasts, we assume no obligation to update the forward-looking statements made in this report. Contact: Ingo Middelmenne Head of Investor Relations Kabel BW Im Breitspiel 2-4 69126 Heidelberg Telefon +49 (6221) 333 1596 Telefax +49 (6221) 333 1519 www.kabelbw.de End of Corporate News 26.05.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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