Greece’s Forthnet ended the first half with 460,252 pay-TV subscribers, or 9.6% less than a year earlier.
Meanwhile, the number receiving triple-play or bundled services was, at 328,000, 9.9% lower.
Forthnet also had 612,815 broadband customers (-7.7%). Its total subscriptions stood at 1,073,067 (-8.5%) and the number of unique households was 744,606 (-7.9%).
Forthnet’s revenues in H1 amounted to €165,510,000 (-9.5%). Reported and adjusted EBITDA were €26,815,000 (-0.4%) and €26,815,000 (-8.1%) respectively.
Commenting on the results, Panos Papadopoulos, the company’s CEO, said: In a prolonged recessionary environment, that decreases disposable income, we continue to focus on optimizing our cost base and on improving the quality of our services. By entering into new agreements we are enriching our content and available channels. We are also continuing to improve the experience of our subscribers, under the Nova brand for all services, by offering to all of our customers high definition image quality and new ways of experiencing on demand content. The refinancing agreement reached with the banks and the upcoming issuance of the convertible bond are important developments towards improving the company’s balance sheet”.
