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Altice maintains outlook as revenue slide continues
2016-08-09 08:41:00| Telecompaper Headlines
(Telecompaper) Altice reported a continued slide in revenues in the second quarter, driven by weakness at SFR in France. Total revenues fell 2.6 percent year-on-year to EUR 5.828 billion, while French revenues dropped 4.3 percent to EUR 2.781 billion amid continued subscriber losses at SFR. Growth in the US as well as Portugal helped Altice's adjusted EBITDA increase 2.7 percent to EUR 2.265 billion, and the margin expanded by 2 percent points to 38.9 percent. Free cash flow fell 7.6 percent to EUR 1.157 billion on higher investment spending and a one-off payment for the joint venture in Israel. Altice reiterated its guidance for an improving trend in revenue this year at constant currency rates and mid-single digit growth in adjusted EBITDA in 2016.
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Category:Telecommunications