Altice Europe had total revenues of €3,631.5 million in Q1, or 3.6% more than in the corresponding period last year.
In its main market France revenues rose by 3.6% to €2,642.7 million, while the biggest growth was seen in its Teads business, up 9% to €96.1 million. Altice Europe’s adjusted EBITDA was €1,314.4 million (+1%). In France, at the end of Q1 SFR had more than 16.2 million homes passed (FTTH/FTTB), an increase of more than a million homes passed compared to Q4 2019. Altice France had 4,918 fibre municipalities at the end of Q1.
The residential fixed base in France grew by 8,000 unique customer net additions in Q1 2020 and fibre net additions reached 64,000. Meanwhile, in Portugal Meo gained 34,000 fibre customers in Q1 and in Israel HOT gained 14,000 fixed customers during the sam period.
Commenting on the results, Patrick Drahi, Altice Europe founder, said: “The group delivered a solid performance in the first quarter, against this challenging backdrop. In both Altice France and Altice International we achieved an acceleration in residential service revenue growth supported by strong subscriber net gains in all geographies and all segments. We continue to carefully assess the potential impacts of the pandemic but currently see no need to change our 2020 guidance. The Group continues to significantly invest in and expand its proprietary best-in- class infrastructure, commensurate with Altice Europe’s leading position in each market. We closed important partnerships which resulted in €1.8 billion of cash proceeds and achieved €4.9 billion of refinancing at record low rates for the Group. As well as locking in significant interest savings, almost €500 million of the €700 million target announced 8 months ago, we also achieved the long-standing objective of simplifying the Group capital structure through the removal of Altice Luxembourg HoldCo. The Group’s diversified capital structure has no material maturity before 2025 and available liquidity of €4.2 billion. Overall, we have achieved a solid start to 2020 and we expect to build on this over the rest of 2020.”
