Kabel Deutschland (KDG) posted record revenues for the fiscal year 2010/11, but the results were tempered by €48.8 million in expenses connected with the company’s refinancing activities.
Pre-tax losses of €57.3 million for the year ending March 31, 2011 compared to last year’s €14.3 million. The figures hide an improved performance that saw revenues increase by 6.5% to €1,598.9 million.
The total number of Revenue Generating Units (RGUs) increased by 579,000 to 12.798 million. The combination of premium TV, internet and phone again proved to be the driver, though the total number of connected households fell slightly to 8.745 million, mainly through the loss of indirect ‘Level 4’ subscribers.
“We are consistently executing the growth strategy we announced at the time of our IPO – the Company’s success story continues. Customer demand for our powerful TV and broadband products remains strong,” said CEO Adrian von Hammerstein.
KDG continues to expand its network – €344.6 million was spent on the cable network and in customer acquisition efforts during the fiscal year 2010/2011 – with an additional one million households expected to be upgraded to fast broadband access over the next two years.
