Altice International 3Q17 - Portugal disappoints, other major regions satisfactory
Cable/Telecom operator Altice International (AI) reported 3Q17 preliminary results which were marked by a disappointing performance in Portugal (40% of total revenue). Indeed, MEO’s revenue declined by 3.1% yoy to €566m while EBITDA came in 1.3% weaker at €265m. The decline was particularly strong in both B2C mobile and B2C fixed, where the topline was down by 5.9% and 6% respectively yoy. In mobile, performance was hit by the regulatory decision to give an additional window of 15 days for potential customer disconnection as well as the abolition of roaming fees. In fixed, ARPU was broadly stable but the customer base shrank by 4.7% yoy, although customer erosion has been reduced through the year.
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