May 6, 2015 12:00 AM CET
“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.”
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/.
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:
To ensure that you are connected to the conference call, please dial in 10 minutes ahead of the conference call to register your attendance.
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.
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.