Telenet beats negative markets

By Julian Clover

Flemish cabler Telenet has beaten both the current bear market and its own highly competitive arena with an EBITDA increase of 26%.
Under pressure from Belgacom’s IPTV operation, UPC sister company said it had added an additional 107,000 subscribers to its digital TV base in the first quarter to reach 716,000.

Revenues of €286.3 million, up 16% on 2008, contributed to an operating profit of €73.2 million.
Capital expenditure of €74.2 million, included €33.5 million sunk into its set top box rental program.