Telenet 3Q17 - Strong EBITDA growth, network transfer ahead of plan but some releveraging to come
Flanders Cable Operator and #3 nationwide mobile operator, Telenet reported good 3Q17 results and reiterated its guidance for FY17. On a like for like basis, revenue was up by 3% to €646m while EBITDA came in 5% stronger at €319m (i.e. a margin of 49.3%) on tight cost control and synergies.
Telenet continued to invest massively in order to improve the speed and quality of its fixed network as well as upgrade its mobile network with the goal to transfer its customer base from Orange Belgium (MVNO contract) to Base network that it acquired last year (accrued CapEx of c.24% of revenue excluding the recognition of the Belgian football broadcasting right).
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