November 13, 2019 / 4:56 PM / 2 months ago

Altice Europe third-quarter results beat expectations on French growth

PARIS (Reuters) - Altice Europe (ATCA.AS), the debt-ridden telecoms and cable group controlled by Franco-Israeli tycoon Patrick Drahi, reported better-than-expected third-quarter results on Wednesday, driven by the turnaround of its French subsidiary.

Group revenue over the period grew by 6.3% on a comparable basis from a year ago to 3.67 billion euros ($4.04 billion), while core operating profits advanced by 8.2% to 1.41 billion euros.

Analysts had expected on average a sales growth of 5.8% for the period and an increase of 7.3% in adjusted earnings before interest, tax, depreciation and amortization (EBITDA), according to consensus figures distributed by the company.

Altice Europe’s (ATCA.AS) French division, which accounts for more than a third of group sales, said it added 41,000 new broadband customers as well as 234,000 mobile customers.

The Netherlands-based holding confirmed its full-year targets, including a free cash flow growth of around 15%, excluding the TV division.

Reporting by Mathieu Rosemain, Editing by Sarah White

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below