77% of Netgem's revenue generated outside France
Pascale Paoli-Lebailly | 17-01-2014
For the quarter ended 31 December 2013, Netgem has announced consolidated revenues of €23.5 million, bringing its consolidated revenue throughout 2013 to €81.3 million, of which 77% was generated abroad, a 19% growth year-on-year.
The group maintains its objective to double its international revenue between FY2011 and FY2014, and has announced that no later than this current quarter, it will create a subsidiary in Mexico to support Iusacell, the fibre optic operator in Mexico City.
Already initiated in the Asia Pacific region, Netgem intends to strengthen its approach by bringing operational and commercial resources closer to countries with robust growth prospects.
Late last year, Netgem launched an Internet television service with Irish telco eircom. This tightly-priced offer is marketed in 'quad-play' packages (Internet, fixed telephony, mobile and TV) for fibre optic subscribers.
In France, where activity slowed by 35% last year, the TV and VOD service LaBox Videofutur reached more than 15,000 subscribers by year-end, just a few months after its launch.
Distribution via operators – currently Virgin Mobile, Citiplay and Ozone – is expected to contribute to growth in 2014.
The group predicts that it will "continue to grow profitably, maintaining a high investment capacity, with a strong cash position and no debt".