Telenet posts first ever profit

The Belgian cable operator Telenet has announced the milestone of 250,000 digital homes (iDTV for interactive digital TV) was reached on February 5 this year.
At the end of 2006 the company had 226,000 iDTV RGUs, or 34% more triple play customers than a year earlier. It also posted a record RGU additions in 2006, adding 347,000 telephony, Internet and iDTV RGUs.
Revenues from continuing operations reached €813.5 million in 2006, up 11% from 2005. EBITDA corrected for €4.8 million one off costs in Q4 06 meanwhile amounted to €371.4 million, or 10% more than in 2005, and all this translated into the first annual profit in Telenet’s history.
“We are delighted to announce that we ended 2006 with a bumper quarter for subscriber growth, combined with a strong EBITDA result,” said Duco Sickinghe, Telenet’s CEO, “We added almost 350,000 RGUs in 2006, with growth well distributed across our three key products: Internet, telephony and iDTV. Internet and telephony together added some 200,000 RGUs, and iDTV made up the balance. As reported during the year, triple play subscriber numbers grew rapidly during 2006 and were up 34% by year end, with an acceleration in Q4 06 thanks to the introduction of our bundled offers.”
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