Germany’s fourth-largest cable operator PrimaCom has increased its turnover in the first six months of 2014 compared with the same period last year by 39.7% to €65.9 million.
The EBITDA rose by 54.2% to €27 million. PrimaCom attributes the growth to its HDTV, internet and telephony products which recorded increasing sales by 38.5% and its acquisition of DTK Deutsche Telekabel group, formerly the sixth-largest market player.
Without the households gained through DTK, turnover rose by 6.2% to €50.1 million and EBITDA by 14.1% to €20 million. Through the takeover of DTK which was closed on April 30, 2014 PrimaCom increased its number of reachable households by 30% to more than 1.2 million.
“The acquisition of DTK clearly demonstrates our intention to play a leading role in the ongoing consolidation of the regional cable media sector in Germany and has formed a strong enlarged group with a highly complementary geographical and infrastructure fit,” PrimaCom CEO Joachim Grendel said in Leipzig.
PrimaCom also strengthened its management team in the past six months through the appointment of two senior executives with experience in the German cable media sector – Jens Müller as CFO and Ludwig Modra as CTO. Furthermore, Renaat Berckmoes, former CFO of Telenet in Belgium, has joined PrimaCom’s advisory board effective October 2014.