Unitymedia - Good earnings growth, once again on price increase and upselling
German cable operator Unitymedia reported strong 3Q17 preliminary results. Revenue was up by 5.0% to €596m while EBITDA increased by 3.8% to €380m i.e. a 63.8% margin (-70bps yoy). The customer base remained broadly stable yoy at 7.2m while - thanks to price increases and upselling (a growing number of customers subscribing to multiple play offers/ more RGUsper customer) - ARPU was 4% higher yoy at €25.09. RGUs net adds, although lower than in 3Q16 (+89k), remained very decent at 68k and were stronger than last quarter, boosted by a promotion initiative implemented in September.
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