ONO rides financial storm -
Spain’s leading cable operator ONO enjoyed a good first quarter despite the still difficult economic climate in the country. Although its turnover of €372 million was 4.1% down on the same period last year and EBITDA 3.9% lower at €176 million, net profit rose by 39.4% year-on-year to €17 million.
ONO ended Q1 with a total of 4.132 million subscribers to its TV, broadband and telephony services, with the latter two attracting 30,000 new customers between them.
The total number of TV customers stood at 970,000, or 5,000 less than the previous quarter. There was a migration from lower to higher end packages such as Extra and Total.
ONO gained 17,000 internet customers in Q1 as the company geared up for the rollout of DOCSIS 3.0 services, offering access of up to 50 Mbs, over the coming months.