Euskaltel posts solid growth following R acquisition

Spanish regional cable operator Euskaltel, which operates in the Basque Country, has posted revenues of €142.3 million for its first quarterly results since its integration of Galician operator R. The figure represents a near doubling of the €79.6 million it posted for the same period in 2015.

EBITDA for the quarter amounted to €69.1 million, up from €37.7 million.

Euskaltel reported an additional 153,000 products contracted for the quarter, up 9.1%. Pay TV additions amounted to 30,000, 13.4% more than in 2015, while mobile additions amounted to 115,000, up 19%. Churn fell from 14.8% to 13.5%

Euskaltel said that 64.3% of its customers  took three or four products, up from 57.6% for the same period last year.