13.05.2016
Tele Columbus AG DE000TCAG172
DGAP-News: Tele Columbus grows revenues by 5.0% yoy and Normalised EBITDA by 9.5% yoy on a pro forma basis
DGAP-News: Tele Columbus AG / Key word(s): Quarter Results
Tele Columbus grows revenues by 5.0% yoy and Normalised EBITDA by 9.5% yoy
on a pro forma basis
13.05.2016 / 07:03
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Publication of first quarter results 2016
Tele Columbus grows revenues by 5.0% yoy and Normalised EBITDA by 9.5% yoy
on a pro forma basis
- First reporting after the Capital Markets Day on 11 April 2016
- All FY2016 targets confirmed
- Revenues more than doubled from EUR 53.6 million to EUR 116.1 million
due to the consolidation effect of primacom and pepcom; on a pro forma
basis the revenues increased by 5.0% year on year
- Normalised EBITDA for the quarter reached EUR 56.5 million, up 131.4%
from EUR 24.4 million in the previous year's period; on a pro forma
basis Normalised EBITDA was up 9.5% year on year
- Normalised EBITDA margin was 48.6% compared to 45.5% in Q1 of FY2015
- Total capital expenditures amounted to EUR 19.5 million (16.8% of
sales) compared to EUR 14.7 million standalone in Q1 FY2015
- Tele Columbus Group added more than 12k Internet RGUs and more than 14k
Telephony RGUs in Q1
- 1.56 RGUs per subscriber (Q4 FY2015: 1.55) and total blended ARPU of
EUR 15.9 in the first quarter (Q4 FY2015: EUR 15.7)
Berlin, 13 May 2016. After the full consolidation of pepcom GmbH ("pepcom")
in December 2015, Tele Columbus AG ("Tele Columbus", "Company" or "the
Group") published for the first time consolidated quarterly results of the
combined Group. For the first quarter of fiscal year 2016, Tele Columbus
reported revenues of EUR 116.1 million with a pro forma increase of 5.0%
year on year. The Normalised total operating performance which includes own
work capitalized amongst others increased to EUR 122.8 million. In the same
period, Normalised EBITDA amounted to EUR 56.5 million, leading to a pro
forma increase of 9.5% year on year and resulting in a Normalised EBITDA
margin of 48.6%. In the quarter, Tele Columbus Group spent EUR 19.5 million
capital expenditures with the first half year expected to be lower Capex
intense in general. On 31 March 2016, the Company served close to 3.6
million homes connected, down 12k from 31 December 2015 being a significant
improvement to previous years for Tele Columbus standalone.
As of 31 March 2016, the Group continued to have 3.6 million homes
connected serving 2.43 million customers which translates into 2.45 million
Cable TV RGUs (Revenue Generating Units) and 424k Premium TV RGUs. Internet
RGUs amounted to 475k and Telephony RGUs to 441k, an increase of more than
12k and more than 14k quarter over quarter respectively. Thus, the number
of RGUs per subscriber increased to 1.56 while the total blended average
revenues per user (ARPU) rose to EUR 15.9 in the first quarter.
Ronny Verhelst, CEO of Tele Columbus, commented the results: "We continued
on our growth path while the organisational integration of primacom and
Tele Columbus is at an advanced stage. Our clear strategy going forward is
to keep the homes connected base stable, to further optimize the network
infrastructure and to exploit our potential for Internet, Telephony and TV
services. In the first quarter 2016, we have again executed on our strategy
successfully."
The Management Board of Tele Columbus reiterates its guidance for fiscal
year 2016 which was announced on 11 April 2016 on the Capital Markets Day
with 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 as a percentage of revenues to range between 35 and 38%.
The Management Board confirms its increased expectations of more than EUR
40 million for the total costs and Capex annual target run-rate synergies
from the integration of primacom and pepcom - from FY2018 on - which was
communicated on the Capital Markets Day on 11 April 2016. There is no
change to the communicated medium term leverage target of 3.0-4.0x.
With effect from 1 March 2016, the Tele Columbus Group started a
harmonization for Tele Columbus' and primacom's double play Internet and
Telephony and triple play products. The download speeds for end customers
were increased from 16 Mbit/s to 20 Mbit/s, from 50 Mbit/s to 60 Mbit/s,
from 100 Mbit/s to 120 Mbit/s and from 150 Mbit/s to 200 Mbit/s
respectively. Approximately 200k existing Internet and telephony customers
were affected.
Also on 1 March 2016, Tele Columbus launched its free Wifi service
"Community WLAN". Existing Tele Columbus and primacom Internet customers
with active WLAN function are able to connect to approximately 50k hotspots
in the Tele Columbus footprint for free mobile internet access. The new
service offers up to 10 Mbit/s download speeds, unlimited data and no
restrictions on usage.
On 9 March 2016, TecDAX listed United Internet became the single largest
shareholder owning 25.11% in Tele Columbus AG after they received clearing
from the anti-trust authority.
In February 2016, Tele Columbus entered into agreements with IKB and J.P.
Morgan on hedging of a large portion of its credit facilities. EUR 1,100
million of the debt is hedged long term until December 2020. The variable
underlying interest rate base (EURIBOR) is capped at 75bp.
In February 2016, the Group started a friendly user test of its "advance
TV" product in Tele Columbus footprint. With its planned advance TV
platform, Tele Columbus will enhance the customer experience by further
innovative features such as interactive, time-shift and multi-screen TV
usage. Through the integration of maxdome to its platform, Tele Columbus
customers will have access to movies, series and documentaries out of
Germany's largest online video library.
Recent developments
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 use the system to discover content and learn about
the TV program they ultimately choose to watch. The mass market launch is
expected for Q4 2016.
On 11 April 2016, the Group launched its mobile products based on the
cooperation with Drillisch in the primacom footprint enlarging the
marketable base by another approximately 1.2 million homes connected to now
2.8 million homes.
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. Both, the
presentation as well as the recorded webcast, are available on the
Company's corporate website.
On 19 April 2016, Tele Columbus announced another sales push for HD
offering 3 months of HD for free with promotions on the activation fee and
shipping of CI+ moduls and HD receivers.
On 4 May 2016, the Company invited for its Annual General Meeting on 10
June 2016 in Berlin. The agenda is available under https://
ir.telecolumbus.com/agm. Under agenda point 5, the Company seeks resolution
to extend its Supervisory Board from six to eight members in order to give
the new major shareholder of the Company the opportunity to propose
suitable candidates for election to the Supervisory Board.
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 covers above the line as well as below the
line channels and is expected to reach 87.7 million contacts.
Additional information
Annual General Meeting: 10 June 2016
Release of Q2/H1 results FY2016: 15 August 2016
Summary table for Q1 FY2015 / Q1 FY2016 and selected preliminary pro formas
Q1 FY2015 / Q1 FY2016 respectively:
EURm Q1 Q1 yoy % Pro Q1 yoy % FY2015 FY2016 forma Q1 FY2016 FY2015 Revenues 53.6 116.1 116.5 110.6 116.1 5.0 Normalised 24.4 56.5 131.4 51.6 56.5 9.5 EBITDA Norm. EBITDA 45.5 48.6 3.1ppt 46.7 48.6 1.9 margin, % ppt Capex 14.7 19.5 32.7 Capex / 27.4 16.8 (10.6 Revenues, % ppt) EUR per month Total 14.1 15.9 12.8 blended ARPU RGU as per end of period ('000) CATV 1,293 2,451 89.6 Internet 208 475 128.5 Telephony 175 441 152.0 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. Contact: Hannes Lindhuber Phone +49 (30) 3388 4170 Fax +49 (30) 3388 9 1999 [email protected] www.telecolumbus.de --------------------------------------------------------------------------- 13.05.2016 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. Media archive at www.dgap-medientreff.de and 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 --------------------------------------------------------------------------- 463439 13.05.2016
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