Euskaltel posts record profits

Francisco Arteche

Spanish regional cable operator Euskaltel has posted record profits for the full-year, up 26.6% to €62.8 million on sales of €291.6 million, up 11.2%.

Euskaltel said that it had achieved growth on the back of success in selling high-value bundled products, with the number of products per customer increasing to 3.6, up from 3.5 in 2017.

Euskaltel posted EBITDA of €336.4 million, up 9.6%.

The number of triple and quad-play customers new represents 70% of the total base, up from 68% in 2017, Revenue-generating units increased by 64,1000 compared with the prior year to reach 2.4 million, despite what Euskaltel described as intense competition.

TV numbers were up 23,000 to 417,000, attributed to the company’s value proposition and the strengthening of its 4K Android TV offering along with the integration of Netflix and Amazon Prime Video.

Broadband numbers were up a more modest 8,500 to 497,000, while mobile customers were up 43,300 to 958,000.

Alberto García Erauzkin, Euskaltel Group’s chairman, said: “During 2018 we have continued to see sustainable growth, strengthening our business, expanding our customer base, increasing profits and leading the digital drive in the communities we operate in. These results enable us to deliver a solid shareholder remuneration policy through the distribution of dividends with sustainable double-digit growth, fulfilling the commitment announced to the market.”

Euskaltel Group’s CEO, Francisco Arteche, said: “The figures recorded in 2018 and the development of our geographical expansion plan show that the Euskaltel Group is following a solid path of growth. We are confident in our strategic plan and aim to close 2022 with income of €800 million and EBITDA of €400 million.”