Com Hem says that an acceleration in customer intake has helped it deliver on its plan, as broadband take-up helped the company move back into the black.
The Swedish cablenet now has 22% of its installed base connected to the TiVo set-top platform. Its seen an increase of 30,000 over the third quarter to reach 132,000 customers. The subscriber base as a whole has grown by 15,000 to 861,000.
Broadband growth increased by 17,000 to 594,000 RGUs – the highest since 2007; Digital television grew for the second consecutive quarter, increasing by 8,000 to 607,000 RGUs. Churn declined from 16.4% in the prior quarter to 14.8% in the third quarter.
“Broadband has been our key focus during the quarter as we upgraded a significant proportion of our customer base and strengthened our market proposition, raising our minimum entry-level speed to 50 Mbps – 5 times faster than the competition – and making it more attractive for customers to upgrade to higher speeds,” said Anders Nilsson, CEO, Com Hem. “These changes were supported by significant marketing activity and resulted in an all-time high number, since 2007, of 17,000 net additions to our broadband subscriber base in the quarter combined with a material improvement in the proportion of new customers choosing 100 Mbit/s and above.”
Revenue totaled SEK 1,210 million (€130.67m), an increase of 9.6% over the third quarter of 2013, putting Com Hen SEK 7 million in the black, compared to a loss of SEK 82,000 in the third quarter of 2014.
