TiVo take Ono to profits and revenue growth
Iñaki Ferreras | 31-07-2012
Despite the recession, the rapid implementation of TiVo-based technology has driven Spanish cable TV provider ONO to solid growth over the first half of 2012.
At 30 June 2012, the operator ended the last quarter of the six month period with a 2.5% growth in revenues to 375 million.
EBITDA margin was stable at 48.6% and net profit grew by 44.5% to 45 million for the half year which overall saw 772 million banked, 5.4% up on the previous year. Operating cash flow increased in the first six months of 2012 by 5.7% to 243 million.
By business area, the residential segment remained stable, with a slight decrease of 0.7% to 578 million. ARPU in residential fibre remained at 51 despite the tough macroeconomic environment.
In addition to benefiting from the ONO Wi-Fi project, the engine for growth was uptake in the Smart TV service that has at its heart TiVo technology. Smart TV now has 34,000 customers and over 92% of the ONO fibre optic network of is ready to offer this product.