ITI Group ('n') 2008 Nine months financial resultsWednesday, November 19th, 2008
LUXEMBOURG — ITI Holdings S.A. (“ITI Group”)[Luxembourg: ITIH], the leading Polish media and entertainment group, announced today its results for the nine months ended 30 September 2008.
Wojciech Kostrzewa, CEO and President ITI Group states: “We have seen deterioration in the business climate on a worldwide scale, which is unprecedented in recent history. We are confident to retain our competitive advantage as we are able to build on the strengths of our brands, dedication and motivation of our employees as well as the quality and resilience of our target audience. On the business development side, n continues to make strong progress and we recently welcomed our 400,000th subscriber and we are confident to reach the 500,000 subscriber mark by the year end. n enjoys a growing popularity and we have seen the majority of our new subscribers opting for the VOD PVR set-top box taking advantage of the unique features n offers to its subscribers.”
ITI Neovision (“n”): The ITI Group launched on 12 October 2006 through ITI Neovision n Poland’s new generation digital platform. In the nine months of 2008, n recorded a solid revenue growth to EURO 49,194 which is an increase of 186.8% compared to EURO 17,152 in the corresponding period of 2007. EBITDA in the nine months of 2008 was EURO (30,115) compared to EURO (29,665) in the corresponding period of 2007. n is being shown as activity under development reflecting the early stage development of the project.
In just two years of operations, n has attracted more than 400,000 subscribers and records average revenue per subscriber (ARPU) of PLN 55.20 which exceeds the reported average ARPU of its competitors. The dynamic growth and excellent results of n reflect a unique combination of high quality content offering and innovative services. To ensure its upward development, n’s management strive to deliver to n’s subscribers the best value for money by constantly expanding the program offer and deploying the latest TV technology in a user-friendly manner.
In June 2008, Netia SA, the leading alternative mobile operator, and n entered into a strategic partnership to launch triple-play services combining television, Internet and telephony. Netia and n’s joint offer reflects the growing demand for innovative multimedia solutions as well as broadband growth in Poland. Both companies are leaders in their fields. n expects to extend its reach to cable networks (mostly urban areas) and Netia seeks to enrich its portfolio by adding new multimedia services.
Following the upgrades of the nBox HDTV and n Box HDTV recorder software, subscribers of the New Generation TV- n, have gained access to a range of new services and functionalities such as remote recording through Internet and mobile phones, Internet based access to Customer Care Center, video footage replacing slide shows, a more transparent and user-friendly layout.
In October 2008, n launched its pre-paid service “telewizja na karte”. Clients of the service have unlimited access to TVN, TVN 7, Religia TV, TVP1, TVP2 and additional several hundred unencrypted satellite channels. By activating their set-top boxes, clients gain access to the entire TVN channel family. The new offer creates a low tier entry proposal to DTH and broadens the reach of TVN’s thematic channels.
More: Earnings Release