Ono grows revenues and customers

May 8, 2014 10.33 Europe/London By Julian Clover

ONO MobileSpanish cablenet Ono has provided new owners Vodafone with an early fillip. The company has increased revenues by 2.8% to €4210 million and added 33,000 new customers in the first quarter.

A record 283,000 new services were added in the first quarter, an increase of 5.4%, which Ono is attributing to its new bundling strategy.

TiVo continue to grow and as of March 31, 2014 was in 382,000 homes, representing 49% of its television customer base.

Rosalia Portela, CEO of Ono, said that “in the first months of 2014 have experienced strong business momentum, which has allowed us to grow customers, both fixed and mobile, and to consolidate our strategic products. It is one of the best periods for the company, where we have been able to further consolidate revenue growth,”

However, despite the addition of new customer signatures, there was still a 7% fall in EBITDA and losses of €24 million.

Investment of €83 million made since January has focussed on ‘Ono WiFi’, which is being rolled out in a number of Spanish cities, and improving the capabilities of its mobile service.

In broadband, Ono added in the period more than 30,000 new customers to its portfolio, reaching a total of 1,561,000. High speeds continue apace and now account for 57% of its internet customer base, with more than 849,000 customers at the end of the first quarter.