ONO’s revamped cable offer had only limited results as the Spanish net reported just 7,000 new customers and 22,000 new cable services in the third quarter. As of September 30, 2007 ONO had 1,830 subscribers taking between them 3.7 million services.
Richard Alden, Chief Executive Officer of ONO, said that although the company was showing good financial strength there had been difficulties with the integration of former AUNA customers into ONO’s billing and CRM systems. “These projects inevitably lead to some short term disruption in our sales and installation operations but they prepare us well for the future and will allow us to offer a higher quality of service to our customers.”
ONO now offers broadband at speeds of 6, 12 and 25 Mbps and has introduced a series of new programming packages including TV Esencial.
EBITDA of €172 million was up 7.8% on the previous quarter and 42.5% when compared to the third quarter of 2006. A summer refinancing will lead to savings of €20 million in interest charges.
