Kabel Deutschland Holding AG (KDG) reported further strong growth in revenue generating units (RGU), revenues and earnings in the fiscal year ending March 31, 2010.
“The steady growth story at Kabel Deutschland continues. The investments in past years are paying off. Customer demand for our competitive products remains strong. This is reflected in the record figures we have announced today. We are delighted to be reporting numbers like this less than three months after our successful IPO. Joining the MDAX confirms the strong position we enjoy in the capital markets,” said CEO Dr. Adrian v. Hammerstein, in a statement.
The company operates the cable networks in 13 German federal states and had a total of 8.9 million customers. The number of Internet and telephony RGUs rose almost 40% to 1,973,000 (previous year: 1,418,000). These subscriptions were taken out by 1,097,000 subscribers (previous year 806,000), an increase of 36.1%. The number of Premium TV RGUs increased by 11.5% to 1,073,000 units (previous year 963,000 RGUs).
The total number of RGUs rose to 12.05 million, from 11.63 million the previous year. The profitable Premium TV, Internet and Phone products accounted for 25.3% of these, up from the previous year’s 20.5%. Total blended monthly ARPU per subscriber (ARPU) was up significantly to €12.13 in fiscal year 2009/2010, from €11.06 the previous year.
The operator, which completed its IPO on March 22, 2010, reported a sharp rise in revenues and earnings. Revenues were up nearly 10% to €1,502 million (previous year €1,370 million) and adjusted EBITDA rose 15.4% to €659.1 million (previous year €570.6 million).
Significant investments (capex) have been made in the cable network and customer acquisition, KDG spent a total of €327.2 million, compared to €373 million the previous year. Operating free cash flow (EBITDA minus capex) was €331.9 million, up 68% from the previous year’s €197.6 million. Net result for the year amounted to a loss of €45.3 million, a significant improvement on the previous year’s loss of €144.3 million.
On June 4, 2010 Deutsche Börse decided that Kabel Deutschland will join the MDAX as of June 21, 2010.
