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May 6, 2015 12:00 AM CET

Com Hem reports first quarter results 2015 – Continued strong operational and financial performance

First quarter summary

  • Revenue totaled SEK 1,228m (1,124), an increase of 9.2% over the first quarter of 2014, representing an organic growth of 3.5%.
  • Underlying EBITDA was SEK 577m (545), an increase of 5.9% over the first quarter of 2014.
  • Operating free cash flow was SEK 314m (330), a decrease of 4.9% over the first quarter of 2014 due to higher customer acquisition related capex.
  • Net result for the period was SEK 40m (-176), an increase of SEK 216m over the first quarter of 2014.
  • Earnings per share were SEK 0.19 (-1.76), an increase of SEK 1.95 over the first quarter of 2014.
  • Strong momentum in customer intake and churn reduction compared with the fourth quarter of 2014:
    • The unique consumer subscriber base grew by 12,000 to a total of 888,000
    • Churn improvement continued, declining from 14.2% to 13.3%
    • Continued strong volume growth in broadband, increasing by 16,000 to 628,000 RGUs
    • Growth in digital television continued, increasing by 8,000 to 625,000 RGUs
    • The number of TiVo customers grew by over 25,000 to 189,000 customers (30% penetration)
    • The fixed-telephony subscriber base grew by 4,000 RGUs
  • On April 23 the result of Com Hem’s redemption program was announced. Upon completion of the application period on 21 April 2015, a total of 886,221 shares in Com Hem have been applied for redemption, at a price of SEK 73.50 per share.
  • Following the recent strong development in the Com Hem share price, only a minor part of the shares were applied for redemption in the one-time redemption programme. The Board of Directors have therefore decided to propose to extend this years’ annual share buy-back programme from up to SEK 1,000m to up to SEK 1,500m (including the SEK 65m already spent on the one-time redemption program) during the time until the next annual general meeting, to be decided at the annual general meeting on May 21, 2015.

Comment from Anders Nilsson, CEO, Com Hem

“Significantly improved cash flow generation, increased RGUs and reduced churn”

“Overall, the business has delivered a strong set of results during the first quarter of 2015. Revenue grew by 9.2%, of which 3.5% was organic growth compared to the corresponding quarter last year. Underlying EBITDA increased by 5.9% and we turned a net loss of SEK 176m into a net profit of SEK 40m. Net cash flow for the period was significantly improved to SEK 171m (-333).  Also excluding the last years’ acquisition of Phonera net cash flow for the period was improved by SEK 213m. This is mainly thanks to increased operational performance and significant improvements we have made to our financing, taking down average interest rates to 4.7%, and reduced interest payments by nearly 50% for the quarter.“

“During the first quarter our unique consumer subscriber base increased by 12,000 to 888,000 unique consumer customers. Our broadband business grew by 16,000 net additions, resulting in 628,000 broadband RGUs – the highest number in Com Hem’s history and the first time broadband RGUs have over-taken digital-TV RGUs. The mix of new customers on 100 Mbit/s or above continues to rise, reaching 74%. The average broadband speed purchased by our existing broadband base now exceeds 100 Mbit/s, probably leading to Com Hem being the cable operator having the fastest broadband customer base in Europe.”

“Going forward our strategy and priorities remain the same. We are proud to be making progress on our journey to have the most satisfied customers in Sweden. We are committed to successfully execute on our plan for sustainable growth and hence generating steady, strong cash flow for our shareholders.”

Notes to the editors:

You find the complete report with tables in the attached PDF or at: https://www.comhemgroup.se/interimreport-q1-2015/.

Com Hem Holding AB’s subsidiary NorCell Sweden Holding 2 AB (publ) is the reporting entity of the Senior Notes. NorCell Sweden Holding 2 AB’s (publ) first quarter results 2015 is as of today also available on https://www.comhemgroup.se/en/investors/financial-reports-presentations/.

Conference Call on May 6

Management will host a conference call for the financial community at 10.00 am CET today. The presentation will be held in English and the presentation material can be accessed on www.comhemgroup.com. An on-demand version is also available after the presentation. For the webcast, please follow this link: http://cloud.magneetto.com/comhem/2015_0506_Q1/view.

Please use the following dial-in numbers to participate:

  • Sweden: +46 8 5052 0110
  • UK: +44 20 7162 0077
  • USA: +1 334 323 6201

To ensure that you are connected to the conference call, please dial in 10 minutes ahead of the conference call to register your attendance.

For queries, please contact:


Petra von Rohr, Director IR & Corporate Communications
Tel: +46(0)734 39 06 54


Jessica Sjöberg, Head of Corporate Communications
Tel: +46 734 39 08 98

Com Hem Holding AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for publication at 07:30 CET on May 6, 2015.

About Com Hem

Com Hem is one of Sweden’s leading suppliers of high-speed broadband, television and fixed-telephony. Approximately 40% of Sweden’s households are connected to Com Hem’s network, with access to the market’s broadest range of television services. Com Hem offers broadband speeds up to 500 Mbps to 1.9 million households which is more than any other operator. Since 2013 Com Hem has a competitive B2B-offer of broadband and telephony services. Com Hem was founded in 1983, has approximately 1,100 employees and its head office is in Stockholm. Operations are run through three subsidiaries; Com Hem AB, Phonera Företag AB and ITUX Communication AB. Com Hem’s shares are listed on Nasdaq Stockholm. For more information, visit: www.comhemgroup.com.