Well helped by the record performance of its sector dedicated to professionals, operator SFR confirms its return to the forefront with results that lend to optimism at the end of this third quarter of 2019.
SFR sees less and less red. After an encouraging second quarter of 2019, the operator held by the holding company Altice France again recorded a rise in subscribers during the third quarter of its current fiscal year. The red square brand has registered 234,000 additional subscribers on the mobile, against 41,000 additional customers to its fixed offers, its largest increase in recent quarters. In terms of its fixed offerings, the operator said today accounted for 44% of its total fiber fleet, a technology that added 59,000 additional customers in the quarter.
However, the slowdown in income generated by its fixed activities continued to rise to -0.6% in the last quarter, although the downward trend of this slowdown is conducive to optimism on the part of the staff of the operator chaired by Alain Weill. On the mobile, revenue growth also remains low at 0.7%.
In detail, the operator recorded an overall turnover up 6.9% year on year to 3.67 billion euros. Over the quarter, the adjusted EBITDA recorded by the operator also increased by 8.8% to 1.41 billion euros, well supported by the performance of Altice France and, above all, from its B2B branch.
SFR Business brings growth to the operator
The reasons for satisfaction are not lacking for SFR. Especially on the business front, an activity that has enabled the operator to achieve a turnover of 873 million euros in the third quarter of 2019, an increase of 23.9% over the last year.
With this performance, SFR itself as a solid dolphin Orange Business Services, the behemoth of the sector for its part recorded a turnover of 1.94 billion euros in the third quarter alone in 2019, up 1.8% over one year. What serenely see the emergence in this market, whose total turnover amounted in 2017 to 9.2 billion euros according to Arcep, a new competition embodied by Bouygues Telecom and, to a lesser extent Measure, Free.
“The results of the third quarter of 2019 show a further acceleration in revenue growth of Altice France, Altice International and Altice Europe as a whole”, welcomed the owner of the operator, Patrick Drahi , on the sidelines of the announcement of these results which demonstrate, according to him, the success of the “successful operational recovery of the new management teams, set up 24 months ago”.
As for the Pharaonic debt of the group, which amounts according to his direction to 30.6 billion euros at the end of the third quarter of 2019, Patrick Drahi was reassuring. “We continue to optimize our capital structure and have recently extended the average life of the capital structure through financing of 2.5 billion euros”. “As part of this refinancing, Altice France has refinanced the cheapest debt ever raised by Altice France under the ownership of Altice Europe and its former shareholders,” he argued, saying that “this refinancing demonstrates the important opportunity for us today to significantly reduce our annual interest costs by reducing both average cost and debt “.
As part of its forecasts, the operator has indicated that it will focus on growth in Altice France’s revenue of between 5% and 6% by the end of the fourth and fourth quarter of 2019, as well as on adjusted EBITDA of between 4% and 6%. , 1 billion euros and 4.2 billion euros.