Com Hem’s revenues slide 2.8%, 2.5% in Q4, FY113

17 Feb 2014

Sweden’s largest cableco Com Hem has posted a drop in revenue for Q4 2013 which it says was impacted by a delay in the launch of its new TiVo-based multi-screen packages. Revenue in October-December 2013 was SEK1.114 billion (USD173 million), a decrease of 2.8% compared to 4Q12, while EBITDA fell 6.4% year-on-year to SEK540 million. Declines in digital TV and fixed telephony turnover were only partially offset by broadband internet growth. Full-year revenue of SEK4.448 billion was down by 2.5% from SEK4.562 billion in 2012, while FY13 EBITDA of SEK2.200 billion was less than the SEK2.232 billion reported the previous year. At year-end 2013 Com Hem’s broadband subscribers reached 558,300, an increase of 15,000, or 2.8%, on its total a year earlier. The August 2013 launch of a 500 Mbps service also contributed to an increase in customers taking 100Mbps-or-above packages, to 35% of the total base.

On 7 October 2013 Com Hem launched its TiVo product, offering features such as intelligent search and recommendations paired with an enlarged content line-up including Netflix and 65 ‘TivoToGo’ (multi-screen) channels. Com Hem signed up 38,000 new TiVo subscriptions, representing 6% of the digital TV base, by 31 December 2013. ‘TiVo is important to Com Hem as it is the key to restoring growth in our DTV business. The combination of the powerful TiVo platform and our broad content offers provide the strongest TV product available in our market’, claimed Andrew Barron, executive chairman of Com Hem.

Sweden, Com Hem (including UPC Sweden),

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