Continuing subscriber losses at Canal Digital were counterbalanced by a significantly improved EBITDA margin in the first quarter that was reflected across Telenor Broadcast.
The DTH business dropped 11,000 subscribers, though revenues of NOK 1,101 million (€145.42m) were on a level with Q1 2011 following price increases and increased sales of hardware and services.
Norway with 493,000 subscribers remains the most successful territory, followed by Sweden (308,000), Denmark (105,000) and Finland (49,000).
Q1 2012 was a strong quarter for Telenor Broadcast with an all time high underlying EBITDA of 31%. Revenues of NOK 1,672 million delivered an EBITDA of NOK 515.
“It is a strong quarter with positive development in all the Telenor Broadcast companies,” said Patrik Hofbauer, CEO, Telenor Broadcast and Canal Digital. “Continued improved efficiency in Canal Digital, strong customer development and increased profitability in Conax, long-term broadcast licenses is secured by Norkring and improved efficiency and Thor 7 on track for Telenor Satellite Broadcasting.”
Security business Conax reported a 9% increase in revenues, driven by new customers in Russia, Switzerland, India, Japan and Haiti.
Revenues of NOK 135m translated to an EBITDA of NOK 60.
In satellite revenues increased year-on-year to NOK 250m following growth from non-Nordic services, primarily data communications, occasional use and other services.
