ALTICE Strong financial performance driven by operational turnaround in International businesses
March 5, 2015: Altice SA (Euronext: ATC NA), today announces financial and operating results for the year ended December 31, 2014.
Strong financial performance
€13.5bn of Pro forma Consolidated Revenue, down 4.6%
€2.0bn International Revenue, down 2.1%
€11.4bn France Revenue, down 5.0%
Pro forma Consolidated EBITDA of €4.0bn, down 6.3%
€936m International EBITDA, up 17%
€3.1bn France EBITDA, down 11%
Proforma EBITDA margin decreased by 0.5% pts to 29.8%
International margin expanded by 7.4% pts to 46.2%
France margin fell by 1.8% pts to 27.1%
Pro forma Operating Free Cash Flow of €1.8bn, down 7.2%
Continued strategic progress (including post-closing)
Completed Acquisition of SFR in November
Acquisition of Portugal Telecom under way after signing of definitive agreement with Oi in Dec-14 and €5.7bn debt issuance in Jan-15
Vivendi accepts offer from Numericable-SFR and Altice to acquire Vivendi's 20% stake in Numericable-SFR for a total cash consideration of approximately €3.9bn in Feb-15
Key operational progress
France:
Synergies implementation plan on track
Strong operational momentum in Fiber
Ambitious Fiber and 4G roll-out plan
Fixed business stable
Israel:
Strong triple-play, hi-speed broadband and mobile growth
Growing UMTS mobile service revenue despite intense price competition
Cable customer base impacted by quality of service issues but positive signs of improvement in December
Dominican Republic:
Solid 13% growth in postpaid mobile subscribers
13% cable customer base growth with continued increase in 3P penetration
French Overseas Territories:
Continued shift from prepaid to postpaid in mobile
Strong 3P growth with 3P penetration up 22%pts to 65%
Portugal:
Acquisition of Portugal Telecom expected to be completed in Q2
Dexter Goei, Chief Executive Office of Altice, said: "Today's set of results show that we are delivering on our successful strategy of EBITDA margin expansion and cashflow growth, particularly in our international division. In France, our project is now well under way with a highly efficient and hands on management team in place fully dedicated to implementing our synergies and cost cutting plan".
Contacts
Investor Relations
Olivier Gernandt: +33 (0)1 8506 1075 / olivier.gernandt@altice.net
Media Relations
Arthur Dreyfuss: +41 (0)79 946 4931 / arthur.dreyfuss@altice.net
Conference call details
The company will host a conference call and webcast to discuss the results at 2pm CET, 1pm GMT, 8 A.M. EST today.
Webcast Live on: http://edge.media-server.com/m/p/xbeewhqq
Conference call dial-in: +44 (0)20 3427 1931 (UK) / +33 (0)1 7677 2239 (Fra), +1 646 254 3376 (US)
Slides will be available one hour prior to the call on our website: www.altice.net
PR FY 2014 Results
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