Forthnet ended the second quarter with 499,092 pay-TV subscribers in Greece and Cyprus, down 0.9% on the same period last year.
Its broadband subscriber figure stood at 548,485 (-1.3%), while the total number of subscribers was 5.5% lower at 899,293. Its retail pay-TV business saw revenues dip by 14.1% to €39.265 million and the company’s total revenues were 7.5% lower at €133.502 million. EBITDA was 0.5% lower at €17.832 million.
Commenting on the results, Forthnet’s CEO Panos Papadopoulos said: “In the first half of 2019, we maintained EBITDA at the same level as last year’s first half and we recorded a rise in EBITDA margin as a percentage of sales. This confirms our company’s resilience in an environment characterised by the over-taxation of the pay-TV market and by the unfair competition from multinational companies which offer similar services.
“In parallel, we are moving at full speed towards our goal, which is to offer mobile telephony services (via the MVNO model) in the beginning of 2020, by providing comprehensive coverage of the Greek family’s entertainment and communication needs.
At the same time, we have confirmed our strategic positioning regarding the broadcasts of exclusive sports content, by expanding our cooperation with Euroleague, the European basketball’s top clubs competition, up until 2023”.
