Altice Europe achieves FY18 guidance, paving way for return to growth in FY19

29 Mar 2019

Netherlands-based multinational telecoms group Altice Europe – created after Altice NV (also known as Altice Group) decided to spin off its Altice USA business and rename its core business (effective 8 June 2018) – has reported consolidated revenues of EUR3.644 billion (USD4.1 billion) for the three months ended 31 December 2018, down from EUR3.707 billion in 4Q17. Adjusted EBITDA, meanwhile, dropped from EUR1.472 billion to EUR1.261 billion in the period under review. Annual consolidated revenues reached EUR14.091 billion in 2018, down 3.5% year-on-year from EUR14.601 billion in 2017, while adjusted EBITDA dropped 9.7% y-o-y from EUR5.646 billion to EUR5.101 billion in the twelve-month period to 31 December 2018.

Altice Europe highlighted that it achieved all its FY 2018 guidance, paving the way for a return to growth in FY 2019 supported by churn reduction (-30% y-o-y in Q4 2018) and improved net promoter score (NPT) in the group’s largest asset, Altice France. In FY 2019, Altice France is expected to deliver revenue growth of between 3% and 5% y-o-y with an adjusted EBITDA of between EUR4.0 billion to EUR4.1 billion.

In operational terms, Altice Europe ended 31 December with a total of 26.250 million mobile subscribers across France, Portugal, Israel, the Dominican Republic and the French Overseas Territories (FOT), alongside 9.247 million unique fixed line customers. France remains Altice’s leading market in terms of subscribers, with 15.064 million mobile users and 6.275 million fixed accounts. In Portugal, the company had 6.516 million mobile and 1.581 million fixed subscribers, while the Israel unit ended the year with 1.299 million (mobile) and 990,000 (fixed) subscribers.

Patrick Drahi, founder of Altice Europe, commented: ‘In 2018, we have completed the reorganisation and simplification of Altice Europe’s structure, with the separation of Altice USA from Altice NV effective on 8 June and a drastic management change. Altice Europe has achieved all of its FY 2018 guidance, with the successful operational turnaround leading to very strong subscriber trends. The significant and continued investments in both fixed and mobile networks, as well as the consistent improvements in customer care, led to a material reduction in complaints from customers and significantly lower churn rates on all technologies. We already see a tangible inflection in Portugal and France, paving the way for growth in 2019, underpinned by our strategy in infrastructure and content.’

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