Ono subs down but still sees profit

Iñaki Ferreras

Spain's main cable operator Ono closed the first quarter with a net profit of €12 million despite a fall in its subscriber base.

EBITDA reached €183 million, 10.4% more than in the same period last year and EBITDA margin was 47.1%.

But subscribers fell. At the end of Q1 this year the cable operator had 1.845 million clients, 1.8% less than in the same period last year. This downturn was mainly due to the reduction in the number of promotions for attracting clients.

But the company claims to have adapted to the global financial crisis by offering its subscribers more packaged services with the advantages of saving this entails.

Ono’s telephony services grew by 30,000 new clients, 1.9% more than in the same period last year reaching 1.646 million clients. As for the internet package, the operator grew 4.4% over the previous year meaning 55,000 new clients and totaling 1.295 million. In this quarter the operator signed up 12,000 new internet clients.

As for pay-TV, the company had 5,000 new subscribers, 0.5% more over the year, totaling 1.016 million clients. However in Q1, Ono suffered a downturn in pay-TV subs, down 23,000 in total.