NUMERICABLE-SFR 3Q15: Lower customer erosion strong EBITDA
| Slower pace of customer decline, ARPU increase Numericable-SFR, the #2 French telecom operator, reported 3Q15 sales of €2.8bn, which were in line with our expectations. This is a decline of 2.4% compared to 3Q14 on a like for like (LFL) basis. Orange, the only competitor for which 3Q15 results are currently available, reported a 0.7% YoY decrease in turnover in France. |
Numis Corp. is a holding company. Co. is an independent institutional stockbroker and corporate advisor. Co. is a provider of access to capital for U.K. listed companies. Co. provides a range of research, execution, corporate broking and advisory services to companies of all sizes quoted in the U.K. and their investors. Co. serves a range of corporate clients across 16 sectors.
Spread Research is France's first Rating Agency, registered by ESMA (European Securities and Markets Authority) and a leading European Independent Credit Research firm, founded in 2004 and based in Lyon, France. Our experienced team offer key research services using a wide range of investment strategies and research methodologies for the High Yield, Emerging Markets, Convertibles and Loan Markets.
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