Kabel Deutschland results for the quarter ended December 31, 2011
Thursday, February 16th, 2012Premium TV RGUs up by 9.5% or 133.8 thousand units quarter on quarter, of which 72.8 thousand units were DVR RGUs
UNTERFOEHRING — Kabel Deutschland Holding AG (‘Kabel Deutschland’, ‘KDH’ or ‘the Company’), Germany’s largest cable network operator, today released its consolidated financials for the third quarter and 9 months ended December 31, 2011 of its fiscal year ending March 31, 2012.
Operational Performance
Since summer 2011, the Company has seen strongly rising demand for its Premium TV services. This trend continued in the third quarter with a quarterly increase of Premium TV RGUs by 9.5% or 133.8 thousand units. Thereof, the DVR product accounted for 72.8 thousand units representing the strongest absolute growth ever. In addition, demand for Kabel Deutschland’s HD Private offering, launched on October 5, 2011, was high with 270.6 thousand subscribers receiving HD Private on December 31, 2011, and driving digital usage in the Company’s customer base. The high demand for these TV services led to an increase of the total blended monthly TV ARPU per subscriber to €9.86, up from €9.80 in the previous quarter.
Further to this, the Company’s direct subscriber base was up 9.6 thousand quarter on quarter at 7,500.9 thousand as of December 31, 2011 (7,491.3 thousand as of September 30, 2011). Total unique subscribers decreased by 38.9 thousand to 8,651.4 thousand quarter on quarter, predominantly resulting from disconnects by Level 4 operator Tele Columbus.
In total, the Company reported 13.3 million RGUs on December 31, 2011, up 5.7% or 721.0 thousand from previous year. The continuous upselling of New Services into the existing subscriber base lifted the RGU per subscriber ratio to 1.54 from 1.50 on September 30, 2011, and 1.43 one year ago. The upselling trend is reflected by the steady increase of the total blended monthly ARPU per subscriber which reached €14.49 in the third quarter – up by €0.99 or 7.3% year on year.
Dec 31, Sep 30, Dec 31, qoq qoq yoy yoy 2010* 2011 2011 change change change change % % ------- ------- ------- ------ ------ ------ ------ Subscribers (in thousands) Direct Basic Cable 7,308.5 7,221.8 7,214.4 -7.4 -0.1% -94.1 -1.3% Indirect Basic Cable 1,277.8 1,199.1 1,150.6 -48.5 -4.0% -127.3 -10.0% RGUs (in thousands) Premium TV** 1,222.3 1,414.6 1,548.5 133.8 9.5% 326.1 26.7% Thereof Pay TV 961.6 1,021.0 1,082.1 61.1 6.0% 120.4 12.5% Thereof DVR 260.7 393.6 466.4 72.8 18.5% 205.7 78.9% Basic Cable*** 8,936.4 8,838.4 8,810.5 -27.9 -0.3% -125.9 -1.4%
Subscribers (in thousands):
As of Dec 31 2008* 2009* 2010* 2011 CAGR 08-11 ----- ----- ----- ----- ---------- Direct Basic Cable 7,412 7,337 7,309 7,214 -0.9% Indirect Basic Cable 1,583 1,451 1,278 1,151 -10.1%
* TKS subscribers and RGUs have been included since the consolidated financial statements for the fiscal year ended March 31, 2011. To ensure comparability December 31, 2010 figures have been adjusted, accordingly.
** Premium TV consists of RGUs for our Pay TV product (Premium HD, Premium Extra, Komfort Premium HD and various foreign language packages), and our DVR products (Komfort HD and Komfort Premium HD).
*** Basic Cable RGUs: The difference between the number of Basic Cable subscribers and Basic Cable RGUs is due to one additional digital product component “Kabel Digital”. It is sold directly to the end-customer on top of the analog Basic Cable service, which is provided and billed via a housing association. A customer subscribing to the “Kabel Digital” product would be counted as one Basic Cable subscriber (analog service via a housing association) and two Basic Cable RGUs (analog service via a housing association and digital service via a direct contract with the end-customer).
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