May 20, 2020 / 3:46 PM / 15 days ago

BRIEF-Altice Europe Reports Q1 EBITDA Up 1% Year-On-Year, Sees No Need To Change 2020 Guidance

May 20 (Reuters) - ALTICE EUROPE NV:

* Q1 TOTAL REVENUE EUR ‍​3.63 BILLION VERSUS EUR 3.63 BILLION IN COMPANY-COMPILED CONSENSUS

* Q1 TOTAL ADJUSTED EBITDA EUR ‍​1.31 BILLION VERSUS EUR 1.33 BILLION IN COMPANY-COMPILED CONSENSUS

* Q1 TOTAL ACCRUED CAPEX EUR 722.3‍​ MILLION VERSUS EUR 768 MILLION IN COMPANY-COMPILED CONSENSUS

* TOTAL CONSOLIDATED NET DEBT EUR 31.2 BILLION (EUR 28.6 BILLION PRO FORMA) AT THE END OF Q1

* TOTAL ALTICE FRANCE REVENUE INCREASED BY +3.6% YOY IN Q1 TO EUR 2.64 BILLION

* OPERATING FREE CASH FLOW AMOUNTED TO EUR 592 MILLION IN Q1, GROWTH OF +11.6% YOY

* ON CORONAVIRUS: NEGATIVE FINANCIAL IMPACTS INCLUDE DELAYS IN FTTH CONSTRUCTION DURING LOCKDOWN WHICH THE GROUP EXPECTS TO CATCH-UP

* NEGATIVE IMPACT ALSO INCLUDES SALE OF EQUIPMENT WHILE SHOPS ARE CLOSED, EXPECTED TO COME BACK AT END OF Q2; ROAMING; ADVERTISING SEVERELY AFFECTED

* FOLLOWING A SOLID START TO THE YEAR, THE GROUP SEES NO CURRENT NEED TO CHANGE 2020 GUIDANCE

* OUTLOOK 2020: GUIDANCE ASSUMES LOCK-DOWNS ARE LIFTED DURING Q2 2020 AND GRADUAL ECONOMIC RECOVERY THEREAFTER Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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