Spanish cablenet ONO grew the number of service contracts during 2012 with the popularity of mobile, broadband and TiVo countering the government’s VAT hike.
ONO closed the year with 4.725 million contracts, an increase of 100,000 over the 12 months of the year, and 2.2% higher than in 2011.
Spain’s parlous financial state saw an increase in the VAT levied increased from 8% to 21% for television and 18% to 21% for the rest of its services.
The strong performance from mobile boosted the growth of total residential services by 1.4% in 2012, while the services of the fixed part of the residential business decreased by 3.5%.
At the end of December, about 700,000 customers had an Internet connection of 30, 50 or 100 mbps.
ONO reported “very high satisfaction rates” for the advanced TV service TiVo, which now boasts in excess of 100,000 subscribers.
The company ended the period with an increase in EBITDA of 0.5% to reach a record €752 million euros at the end of December 31, 2012. ONO’s net profit in 2012 stood at €52 million.