Greece’s Forthnet ended the first half with a total of 456,453 pay-TV subscribers, or 0.6% fewer than in the same period last year.
At the same time, its broadband subscriber total rose by 0.2% to 549,708, of which 92,433 (+32%) were NGA and the total number of subscriptions fell by 2.9% to 873,080. Forthnet’s total revenues in H1 amounted to €125,210,000 (-6.2%) and EBITDA €18,010,000 (-0.5%).
Commenting on the results, Forthnet’s CEO Panos Papadopoulos said: “In the first half of 2020, despite the Covid-19 pandemic crisis, we managed to keep EBITDA at the same levels as in the first half of 2019, implementing extensive cost reduction measures. We have coped successfully with the Covid-19 pandemic crisis by protecting our employees’ and partners’ health and ensuring the uninterrupted provision of services to our subscribers.
“During this challenging period, Forthnet’s top management preserved the company’s strategic value for the benefit of all stakeholders and took initiatives for promoting it in the international investment community. ?his way, Forthnet contributed decisively to the successful completion of the creditor Banks’ process for finding a strategic investor.
“United Group’s entry to the company is an event of strategic importance not only for Forthnet, but for the whole Greek telecom and pay-TV market”.
