ONO revenues up despite tough conditions

Despite tough economic conditions and price competition, Spanish cable operator ONO posted a 4.1% increase in revenues for the first quarter to €398 million.

ONO had 150,000 customers for its TiVo advanced TV service, which is now available in all households connected to its fibre network, at the end of the quarter.

Residential ARPU remained stable at €52.10, despite the residential sector being hardest by price competition. ONO saw growth in its business-to-business services and mobile contracts, where it now has over 557,000 customers, up 176.7% year-on-year.

Total contracted services grew by 4.7% year-on-year to 4.821 million, despite a 3.9% fall in fixed-line residential RGUs to 4.051 million.

ONO posted a net loss of €23 million for the first quarter as a result of the impact of exchange rate fluctuations on its debt repayments and expenses related to its February bond issue.