UK-based BSkyB has published its financial results for the six months ended 31 December 2013, with the company revealing that adjusted revenues for the period stood at GBP3.751 billion (USD5.94 billion), up 7.6% year-on-year. With the operator stating that increased turnover that had come on the back of subscriber gains across its product range, EBITDA in H1 2013/14 totalled GBP813 million, unchanged against the corresponding period a year earlier, while adjusted operating profit was down by 8% y-o-y to GBP595 million. BSkyB noted that such results reflected a previously announced one-off increase in costs for its Premier League football rights, as well as investments made to accelerate that take-up and usage of connected TV services. Net profit for the period under review meanwhile fell to GBP411 million, from GBP487 million in H1 2012/13.
In operational terms, BSkyB said that its home communications offerings had ‘continued to perform well’, and the company added 110,000 net new broadband customers in the three months to end-December 2013 to bring its total subscriber base to 5.127 million. With regards to fixed line voice and line rental the operator reported 4.792 million and 4.676 million such subscribers at the end of the reporting period, up from 4.022 million and 3.870 million, respectively, a year earlier. Further, according to the operator, 36% of its customer base is now signed up to a triple-play bundle comprising TV, broadband and telephony.
Commenting on the results, BSkyB chief executive Jeremy Darroch said: ‘Our financial performance was strong in the first half and we remain on track for the full year. Good operating momentum led to an 8% increase in revenues for the period, excluding revenues from the discontinued retailing of ESPN. We are moving through a year of investment in which we are absorbing the one-off step up in Premier League costs well, with adjusted EBITDA flat thanks to a continued focus on operating efficiency.’