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Thumbs up Spains ONO struggles - 20-November-2009, 01:20

Spains ONO struggles
Iaki Ferreras
19-11-2009

Spain's main cable operator Ono's EBITDA improved 3.5% helped by a lowering of the company's in the first nine months this year.

Despite struggling to maintain subscribers because of Spain's economic crisis the operator said its EBITDA was 541 million in that period thanks to tight control over expenses and to lower capital expenditure.

ONO reduced its operative expenses 13% (340m) helped by reducing its staff headcount in January. Also capital expenditure fell 49.1% to just 150 million. Network deployment spending was cut back in order to conserve cash to handle the current downturn.

Helped by these actions, its net benefit grew 41m compared to 17m in the same period last year. However the operator's sales fell 5.1% (1.140bn) between January and September this year, a period where its subscriber base went down in 51.000 clients or 2.7% less comparing with the same period last year.

Ono offers integrated traditional telephony, broadband and pay-TV services. The company is owned by a group of investors including Banco de Santander with a 4.4% stake, and several venture capital foreign funds.



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