Keeps full-year guidance
AMSTERDAM–Dutch cable company Ziggo NV Friday said it returned to a net profit in the third quarter and maintained its guidance for the full 2012.
- Net profit was EUR72.4 million, from a EUR1.3 million net loss in the same period a year earlier.
- Revenue rose 1.2% to EUR380.1 million, compared to a year earlier.
- Adjusted earnings before interest, taxes, amortization and depreciation, or Ebitda, were up 8.1% on the year to EUR227 million.
Ziggo said it is on track to continue to increase its market share and grow revenues. Excluding telephony usage, where it expects a continuation of the downward trend, Ziggo expects revenue from its core business to develop in line with its plans for the full year 2012. In view of the market environment that has become more competitive over the summer period, subscriber acquisition costs are expected to increase. Based on the above expectations Ziggo said it is confident to meet the current EBITDA consensus for the full year 2012.
Capital expenditure for 2012 is expected to be in the range of EUR270 to EUR280 million, slightly below our previous guidance of approximately EUR280 million.
Ziggo shares closed at EUR26.89 Thursday.
By Amsterdam Bureau