15.08.2016
Tele Columbus AG DE000TCAG172
DGAP-News: Tele Columbus AG continues to grow and reiterates its fiscal targets for 2016
DGAP-News: Tele Columbus AG / Key word(s): Half Year Results/Quarter Results
Tele Columbus AG continues to grow and reiterates its fiscal targets for
2016
15.08.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Publication of second quarter and six months results 2016:
Tele Columbus AG continues to grow and reiterates its fiscal targets for
2016
- In the second quarter, revenues grew by 120.7% from EUR 54.3 million to
EUR 119.9 million year on year due to the consolidation effect of
primacom and pepcom; on a pro forma basis the revenues increased
strongly by 4.2%
- Normalised EBITDA for the second quarter reached EUR 59.0 million, up
113.0% from EUR 27.7 million in the previous year's period; on a pro
forma basis Normalised EBITDA was up 2.3% year on year
- Increase of Normalised EBITDA margin from 48.6% in Q1 FY2016 to 49.2%
- Total capital expenditures amounted to EUR 28.3 million (23.7% of
revenues) compared to EUR 19.5 million in Q1 FY2016 and EUR 23.4
million standalone in Q2 FY2015
- Homes connected on 30 June 2016 were up 3k to 3,596k (from 3,593k end
of Q1 FY2016)
- Tele Columbus Group added more than 10k Internet RGUs and roughly 11k
Telephony RGUs in the quarter
- 1.57 RGUs per subscriber (31 March 2016: 1.56x, 31 December2015: 1.55x)
- Total blended ARPU significantly increased to EUR 16.5 in Q2 FY2016 (Q1
FY2016: EUR 15.9, Q4 FY2015: EUR 15.7)
- All FY2016 targets with stable homes connected, mid single digit
percentage revenue growth versus FY2015, high single digit percentage
Normalised EBITDA growth year on year and Capex of 35% to 38% of
revenues confirmed
Berlin, 15 August 2016. Tele Columbus AG ("Tele Columbus", "Company" or
"the Group"), the third largest German cable operator, published its
financials for the second quarter of fiscal year 2016. The Group again
reported strong growth with revenues of EUR 119.9 million - an increase of
more than 120% and a pro forma increase of 4.2% from EUR 115.0 million year
on year. The company also successfully increased the Normalised total
operating performance which includes own work capitalized amongst others to
EUR 126.8 million, up EUR 4.0 million or 3.3% from Q1. Normalised EBITDA
for the quarter amounted to EUR 59.0 million, resulting in an increase of
113.0% and a pro forma increase of 2.3% year on year (Q2 FY2015PF: EUR 57.7
million). This led to a Normalised EBITDA margin of 49.2%, 0.6ppt up from
the first quarter of FY2016. In the reported period, Tele Columbus Group
spent EUR 28.3 million capital expenditures, together with the EUR 19.5
million in the first quarter a total of 47.8 million for the first six
months (20.2% of revenues) which is still significantly below the full year
guidance of 35% to 38% as percentage of revenues.
Therefore the Management Board of Tele Columbus reiterates its guidance for
fiscal year 2016 expecting
- stable homes connected of approximately 3.6m, a
- mid single digit percentage revenue growth versus FY2015, a
- high single digit percentage Normalised EBITDA growth year on year and
- Capex of 35% to 38% of revenues.
As of 30 June 2016, the Group reported 3.6 million homes connected,
approximately 3k up from 31 March 2016. The Company served 2.42 million
customers which translates into 2.44 million Cable TV RGUs (Revenue
Generating Units), 424k Premium TV RGUs, 485k Internet RGUs and 452k
Telephony RGUs which is an increase of 10k for Internet and roughly 11k for
Telephony versus the end of the previous quarter. Thus, the number of RGUs
per subscriber increased to 1.57x, up 0.01x from the end of the first
quarter while the total blended average revenues per user (ARPU) rose
significantly from EUR 15.9 per month in the first quarter 2016 to EUR
16.5.
"In the second quarter, we have again successfully managed to develop all
relevant company KPIs as intended", stated CEO Ronny Verhelst, showing his
satisfaction. "To support this development long-term, we have defined four
key strategic initiatives that we are driving consequently: It is our clear
intent to generate organic growth, to make use of the M&A opportunities in
the German cable market, to exploit the synergies from the integration of
the acquired companies and to expand our business customer activities.
Everything we do is contributing to these strategic initiatives and pushing
our long-term success."
On 6 April 2016, Tele Columbus launched a new entry level mobile product
called "Mobil 50 LTE Smart" for EUR 9.99 per month offering 500 MB data,
300 minutes (or SMS respectively) flat phone into the German fixed and
mobile networks and access to the Group's Community Wifi.
On 6 April 2016, Tele Columbus jointly released with Espial the results of
its "advance TV" trial. Friendly users were impressed by the system's
clarity and the Premium EPG's content. As a result, almost 70% of trial
participants regularly used the system to discover content and learn about
the TV program they ultimately choose to watch. The mass market launch is
expected for December 2016.
On 11 April 2016, Tele Columbus Group hosted its first Capital Markets Day
in the city of Berlin. Approximately 60 sell side analysts, equity and
credit investors attended the presentations in person. On this occasion,
Tele Columbus updated the market on its future strategy and gave 2016 as
well as medium term guidance.
On 11 May 2016, the Group launched a big marketing campaign to foster its
products ahead of the European Football Championships in June 2016. The
integrated 360 degree campaign covered above the line as well as below the
line channels and reached approximately 88 million contacts.
Between end of May and early June 2016, the Company signed balance of
interests as well as social plans with the workers councils of the
different entities and sites of Tele Columbus and primacom respectively.
This allowed the company to finally apply the new organisation for both
companies and concluded a significant milestone in the integration path of
both companies.
On 7 June 2016, Tele Columbus launched the refinancing of its existing EUR
117 million Second Lien Term Loan. On 18 June 2016, the refinancing was
accomplished with the successful allocation of a January 2021 EUR 125
million First Lien Term Loan B add-on facility.
On 10 June 2016, the Company hosted its second ordinary Annual General
Meeting in Berlin. The shareholders approved the increase of the
Supervisory Board from six to eight members to reflect the new major
shareholder United Internet in the composition of the Board.
On 20 June 2016, Tele Columbus announced a cooperation agreement with
Video-on-demand provider ODD ("On demand Deutschland") giving access to
movies from major Hollywood studios such as 20th Century Fox, Warner Bros.,
Universal or Paramount Pictures. The launch of the Transactional VoD
service is planned with the introduction of the new TV platform end of
2016.
On 22 June 2016, Tele Columbus Group started a FTTB/FTTH network in the
city of Markt Indersdorf reaching 3,500 homes connected. 70% of households
pre-subscribed to the Internet & Telephony products. The Group plans to
launch a 1 Gbit/s download speed product for retail households by end of
2016 which means a new market record for area-covering city networks in
Germany.
On 24 June 2016, the Group released another 610,000 homes connected in Tele
Columbus and roughly 170,000 homes connected in primacom footprint upgraded
for 400 Mbit products including larger cities like Berlin, Erfurt, Dresden,
Leipzig or Halle. The Group now markets its 400 Mbit products to
approximately 840,000 homes connected.
Recent developments
On 14 July 2016, the Tele Columbus AG was honoured with the Corporate
Finance Award by the Börsen-Zeitung, one of the most renowned national
business media for capital markets in Germany. The prize was awarded in 5
categories for the strategically and financially most outstanding
transactions in 2015. Tele Columbus was elected in the category small/mid
caps due to its consequent and successful acquisition strategy and the
professional financing of the transactions.
On 1 August 2016, the Group achieved another important milestone in the
integration of its acquired companies and launched a new Internet &
Telephony product portfolio for pepcom Group. The new Internet & Telephony
products, marketed under the brandname cablesurf, offer speeds between 20
Mbit/s and 400 Mbit/s and give access to Tele Columbus' free Community Wifi
service.
Additional information
Release of Q3/9M results FY2016: 14 November 2016
Summary table for H1 FY2015 / H1 FY2016 and selected pro formas H1 FY2015 /
H1 FY2016 respectively:
EURm H1 H1 yoy % Pro H1 yoy % FY2015 FY2016 forma H1 FY2016 FY2015 Revenues 107.9 235.9 118.6 225.6 235.9 4.6 Normalised 52.1 115.4 121.6 109.3 115.4 5.7 EBITDA Norm. EBITDA 48.3 48.9 0.6ppt 48.4 48.9 0.5ppt margin, % Capex 38.0 47.8 25.8 Capex / 35.2 20.2 (15.0ppt) Revenues, %Summary table for Q2 FY2015 / Q2 FY2016 and selected pro formas Q2 FY2015 / Q2 FY2016 respectively: EURm Q2 Q2 yoy % Pro Q2 yoy % FY2015 FY2016 forma Q2 FY2016 FY2015 Revenues 54.3 119.9 120.7 115.0 119.9 4.2 Normalised 27.7 59.0 113.0 57.7 59.0 2.3 EBITDA Norm. EBITDA 51.0 49.2 (1.8ppt) 50.1 49.2 (0.9ppt) margin, % Capex 23.4 28.3 20.9 Capex / 43.0 23.7 (19.3ppt) Revenues, % EUR per month Total 14.3 16.5 15.4 blended ARPU RGU as per end of period ('000) CATV 1,259 2,443 94.0 Internet 213 485 127.7 Telephony 202 452 123.8 Premium TV 161 424 163.4About Tele Columbus The SDAX listed Tele Columbus Group is one of Germany's largest cable network operators. Via its origins - individual regional cable network operators that were merged into Tele Columbus - the company dates back to 1972. Today, about 3.6 million connected households in Germany are served by Tele Columbus, primacom, pepcom, Deutsche Telekabel, Martens und KMS with TV signals and, increasingly, digital broadcast packages, Internet and voice connections provided via high-performance broadband cable. As a national provider with a regional focus and a partner of the housing industry, the Group is present throughout its core markets Berlin, Brandenburg, Saxony, Saxony-Anhalt and Thuringia as well as in numerous key regions in western Germany. In tune with current demand trends, the company is upgrading its networks in a hybrid fibre-optic infrastructure for superfast Internet connections of up to several hundred megabits per second with the state-of-the-art Internet transmission standard DOCSIS 3.0. The broadband cable caters to the entire range of innovative media applications from analogous, digital and high-definition TV to high-speed Internet and voice connections to telemetry services, tenant portals and interactive services. Beyond merely transmitting signals, Tele Columbus uses its own product platform in order to actively increase the programme offering and to develop additional services. Via its company HL komm, Tele Columbus also delivers powerful connections and network services to business customers. Disclaimer This release contains forward-looking statements. These statements are based on management's current expectations or beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Although we believe that such forward-looking statements are reasonable, we cannot assure you that any forward-looking statements will prove to be correct. Such forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks and uncertainties, the forward- looking events and circumstances discussed in this Investor Relations release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements. Accordingly, investors are cautioned not to place undue reliance on the forward-looking statements. This release contains references to certain Non-GAAP financial measures, such as Normalized EBITDA and Capex, and operating measures, such as RGUs, ARPU, and Unique subscribers calculation. These supplemental financial and operating measures should not be viewed in isolation as alternatives to measures of Tele Columbus' financial condition, results of operations or cash flows as presented in accordance with IFRS in its Consolidated Financial Statements. The Non-GAAP financial and operating measures used by Tele Columbus may differ from, and not be comparable to, similarly titled measures used by other companies. In addition, this release contains pro-forma financials. Our pro forma financials have been prepared for illustrative purposes only. They are based on the assumption that the primacom and pepcom acquisitions had occurred on 1 January 2015. Because of their nature, our pro forma financials address a hypothetical situation and, therefore, do not represent our actual results of operations. It is not necessarily indicative of the results that should be expected in the future. --------------------------------------------------------------------------- 15.08.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Tele Columbus AG Goslarer Ufer 39 10589 Berlin Germany Phone: +49 (0)30 3388 4177 Fax: +49 (0)30 3388 9 1999 E-mail: [email protected] Internet: www.telecolumbus.de ISIN: DE000TCAG172 WKN: TCAG17 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 492581 15.08.2016
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