German cable operator Primacom has reported a slightly lower turnover during Q3 2008, mainly due to a decrease in analogue customers after selling the cablenets in Aachen and Wiesbaden. The company is reporting higher income from new services, telephony generated €1,464,000 (an increase of 60%) and broadband Internet access totaled €2,766,000 (plus 37%).
Total turnover during the third quarter was €22,461,000, down 8%. Of this, a lower than anticipated income of €1.1 million (4.5%) can be attributed to the sale of the two nets to Unitymedia. The €49.3 million transaction was completed on September 1. These two networks were outside the main regions served by Primacom.
The sale of the two networks resulted in an EBITDA of €9,908,000, well below the previous year’s result of € 11,476,000, and lower than planned. Adjusted EBITDA, taking out the network sale and non-recurring effects, was slightly higher than the previous year and well above plan, according to the company.
At the end of Q3 the total number of upgraded triple-play homes served by the company was 394,657. The total number of RGUs was 847,200. Primacom is now part of the Orion Cable Group and with the two companies combined, is the third largest cable operator in the country.