Altice: leaps 8% in Amsterdam, former SFR wins new users
(CercleFinance.com) - At last there has been an improvement in France for Altice NV, the division of Patrick Drahi's telecom group that will soon be renamed Altice Europe.
The former SFR has increased its number of subscribers over Q1 and has reported a limited fall in EBITDA. In Amsterdam, the Altice NV share heads the AEX 25 index, up over 8%.
At the end of Q1 2018, the group's consolidated revenues fell by 2.6% to 3.48 billion euros, although they are flat excluding FX factors.
EBITDA, a closely monitored aggregate for this heavily indebted group, fell by 3.5% to 1.24 billion euros over the quarter, mainly due to International operations (-8.4% to 434 million euros), with EBITDA in France slipping just 3.6% to 875 million euros. Excluding negative FX factors, Altice NV's EBITDA was down just 0.5%.
Founder Patrick Drahi, said that the group's strategy is paying off, and also highlights progress in terms of asset disposals. Drahi is "confident" that these first significant improvements will continue over the coming quarters.
The hardest is clearly behind us in Europe, said a Paris analyst this morning. Bryan Garnier stresses SFR's improved business performance, which exceeds expectations, despite international disappointments. However, analysts have questions, stating that the main outstanding issue is the sustainability of this trend, given the response expected from Iliad.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The former SFR has increased its number of subscribers over Q1 and has reported a limited fall in EBITDA. In Amsterdam, the Altice NV share heads the AEX 25 index, up over 8%.
At the end of Q1 2018, the group's consolidated revenues fell by 2.6% to 3.48 billion euros, although they are flat excluding FX factors.
EBITDA, a closely monitored aggregate for this heavily indebted group, fell by 3.5% to 1.24 billion euros over the quarter, mainly due to International operations (-8.4% to 434 million euros), with EBITDA in France slipping just 3.6% to 875 million euros. Excluding negative FX factors, Altice NV's EBITDA was down just 0.5%.
Founder Patrick Drahi, said that the group's strategy is paying off, and also highlights progress in terms of asset disposals. Drahi is "confident" that these first significant improvements will continue over the coming quarters.
The hardest is clearly behind us in Europe, said a Paris analyst this morning. Bryan Garnier stresses SFR's improved business performance, which exceeds expectations, despite international disappointments. However, analysts have questions, stating that the main outstanding issue is the sustainability of this trend, given the response expected from Iliad.
Copyright (c) 2018 CercleFinance.com. All rights reserved.