- Achieved FY 2013 outlook with 10% revenue growth and 8% increase in Adjusted EBITDA;
- Strong operational momentum continued with highest net triple-play additions since 2009;
- Anticipating 6-7% top line growth for 2014, Adjusted EBITDA growth of 5-6%, accrued capital expenditures representing 20-21% of revenue and Free Cash Flow between EUR230-240 million.
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Mechelen, February 13, 2014 - Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) announces its unaudited consolidated results under International Financial Reporting Standards as adopted by the European Union ("EU IFRS") for the year ended December 31, 2013.
- Revenue of EUR1,641.3 million for FY 2013, up 10% yoy, driven by a growing contribution from our mobile business and strong triple-play growth. Q4 2013 revenue of EUR417.4 million, up 6% yoy as the rate of mobile growth slowed as anticipated in comparison to prior quarters;
- Continued strong commercial traction for our triple-play bundles "Whop" and "Whoppa", resulting in robust net fixed telephony and triple-play subscriber additions of 35,900 and 35,600, respectively, in Q4 2013;
- Solid net mobile postpaid subscriber additions of 37,600 in Q4 2013, resulting in 750,500 RGUs at year-end 2013 amidst a more competitive environment and our focus on more cost-effective subscriber acquisitions;
- Adjusted EBITDA(1) of EUR842.6 million for FY 2013, up 8% yoy. Despite larger share of lower-margin mobile revenue, our margin only showed a slight contraction to 51.3%. Q4 2013 Adjusted EBITDA of EUR205.7 million, up 9% yoy, yielding a margin of 49.3% which was up 150 basis points compared to Q4 2012;
- Operating profit of EUR389.2 million for FY 2013, impacted by EUR53.3 million impairment charge on the 3G mobile spectrum license and a EUR34.8 million restructuring charge for the discontinuation of DTT services;
- Accrued capital expenditures(2) totaled EUR372.3 million for FY 2013, up 5% yoy, representing approximately 23% of our revenue. Excluding capitalized content costs and the reversal of import duties on settop boxes, our accrued capital expenditures were up 4% yoy and represented approximately 22% of our revenue;
- The board of directors authorized a EUR50.0 million share buy-back program, effective today, and will evaluate other shareholder disbursements at a later stage this year.
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