Altice Europe turns in better-than-expected Q3

Altice Europe has turned in better than expected results for the third quarter, with revenue up by 6.9% and adjusted EBITDA rising by 8.8% on the back of an improved performance at Altice France. 

Altice France grew its residential base by 41,000 customers, with its fibre customer base increasing by 59,000 taking fibre penetration to 44% of the total base. Mobile post-paid customer increased by 234,000. 

In Portugal, Altice saw its residential base grow by 5,000 with 38,000 fibre net additions and 41,000 mobile post-paid net additions.

Altice Europe turned in revenues of €3.43 billion for the quarter, with adjusted EBITDa amounting to €1.29 billion. France contributed most of the growth, with revenues up 7.2% to €2.47 billion, and EBITDA up 9% to €966 million. 

Altice France/SFR unveiled its new TV set-top box, the SFR Box 8, which is WiFi 6 compatible, in July and is currently marketing it at €5 a month. 

Israeli cable operator HOT grew its customer base to over one million but saw revenues decline slightly on a converted currency base. HOT launched a pilot OTT TV service in July which it expected to market before the end of the year. 

Altice TV, the group’s French channels operation, turned in revenues of €58 million for the quarter, boosted by its wholesale deal with Canal+, Adjusted EBITDA improved from negative €56 million last year to negative €31 million.