Altice Europe’s revenues in France amounted €2,646 million in the third quarter, or 7.2% more than in the same period last year.
At the same time, revenues at Altice International rose by 5.5% (reported) to €1,036 million.
Altice TV revenues in Q3 were €58 million in Q3 (€30 million a year earlier) and the company’s total revenues €3,666 million, up a reported 6.9% on a year earlier.
Meanwhile, total adjusted EBITDA for Q3 was €1,407 million, up a reported 8.8% on a year earlier. SFR ended Q3 with a B2C fixed base of 6.3 million (+2.2% year-on-year), of which 44% was fibre. Meanwhile, Meo had a fixed base of 1.6 million (+1% year-on-yrear), of which 58% was fibre.
Commenting on the results, Patrick Drahi, Altice Europe founder, said: “Q3 2019 results show another acceleration in revenue growth for Altice France, Altice International and Altice Europe overall. In Altice France, our strong results were supported by all segments growing, including residential revenue growth year over year for the second successive quarter. This strong financial performance has been underpinned by the successful operational turnaround achieved by the new management teams, put in place 24 months ago. Group EBITDA growth remains very strong this quarter, paving the way for organic deleveraging. We reiterate all FY 2019 guidance. We continue to invest in our proprietary best-in-class infrastructure, commensurate with Altice Europe’s leading position in each market. In France and Portugal in particular, we have significantly expanded our proprietary fibre infrastructures again this quarter. We continue to optimise our capital structure and recently extended the average maturity of the capital structure through a refinancing of €2.5 billion. As part of this refinancing we priced the lowest coupon debt ever raised by Altice France under both Altice Europe’s and previous shareholder’s ownership. This refinancing demonstrates the significant opportunity ahead on which we are focused today, to materially reduce our annual cash interest costs through both average cost and debt reduction.”
