Regulatory News:
Groupe Outremer Telecom (FR0010425587 - Paris:OMT), the leading alternative telecom operator in the French Overseas Regions (FOR), today publishes its unaudited revenue for its first half to 30th June 2011.
(In ?m IFRS) | Quarterly revenue1 | Half-year revenue | ||||||||
| Q1 2011 | Q2 2011 | H1 2010 | H1 20111 | ? | |||||
Mobile | 29.6 | 30.5 | 55.2 | 60.0 | +8.8% | |||||
% of total revenue | 63% | 64% | 61% | 64% |
| |||||
Residential | 12.4 | 12.4 | 25.4 | 24.8 | -2.3% | |||||
% of total revenue | 27% | 26% | 28% | 26% |
| |||||
Professional | 3.9 | 4.0 | 7.3 | 7.9 | +8.4% | |||||
% of total revenue | 8% | 8% | 8% | 8% |
| |||||
Other | 0.8 | 0.7 | 3.0 | 1.4 | -52.2% | |||||
% of total revenue | 2% | 1% | 3% | 2% | ||||||
Total | 46.7 | 47.5 | 90.9 | 94.2 | +3.6% | |||||
The Group recorded revenue of ?94.2m over the first half of 2011, up 3.6% on the 1st half of 2010.
Over the 2nd quarter of 2011, revenue grew by 0.9%, with a substantial discrepancy with activity growing by 8.7% in the French West Indies and French Guiana zone but falling 7.2% in the Indian Ocean zone. In order to revitalise activity in the Indian Ocean zone, and notably on the island of Reunion, the Group has begun to reorganise the line management across this zone and should complete this process before the end of the year.
At 30th June 2011, the Group had 585,187 subscribers to its offers, 467,052 of them active.
Mobile activity
Mobile activity recorded revenue of ?60.0m over the 1st half of 2011, a significant increase of 8.8% compared to the 1st half of 2010 (+6.0% over the 2nd quarter of 2011), despite the reduction in call termination tariffs.
Mobile activity has continued to increase its relative share of Group revenue, as it represented 64% of total Group revenue over the 1st half of 2011 versus 61% over the 1st half of 2010.
In the French West Indies and French Guiana zone, Mobile revenue totalled ?38.9m (+13.5%) over the 1st half of 2011, whilst in the Indian Ocean zone the figure was ?21.2m (+1.9%).
The number of Mobile subscribers continued to increase, and totalled 440,767 at the end of the half, 331,849 of them active.
At 30th June 2011, Mobile ARPU (Average Revenue Per User), calculated using the gross base, was ?23.0 in the French West Indies and French Guiana zone and ?19.4 in the Indian Ocean zone.
Residential activity
Residential activity generated revenue of ?24.8m over the 1st half of 2011, down 2.3% compared to the 1st half of 2010. This decrease was notably the result of a weaker sales performance in the Indian Ocean zone, where revenue was down 10.6%, whilst revenue in the French West Indies and French Guiana zone increased by 3.3%.
Internet revenue recorded growth of 10.8% whilst, as expected, fixed-phone revenue continued to decrease (-29.3%).
The number of Internet subscribers saw an upturn, driven by the increase in the number of broadband subscribers over the 1st half of 2011 (+3,133 net active subscribers). At 30th June 2011, the Group had 67,170 Internet subscribers.
Professional activity
Professional activity continued to grow over the 1st half of 2011, with revenue increasing by 8.4% to ?7.9m.
On a geographical level, there was a contrasting performance with growth of 15.6% in the French West Indies and French Guiana zone and growth of just 4.7% in the Indian Ocean zone, with a deterioration over the 2nd quarter with no growth in the Indian Ocean zone.
Having strengthened the sales structure of Residential activity in the Indian Ocean zone, the Group will turn its attention to strengthening the sales organisation of Professional activity during the 2nd half of 2011.
Other activity
As anticipated, revenue from Other activity, which is non-strategic, continued to decline and totalled ?1.4m over the 1st half of 2011, with ?0.7m over the 2nd quarter.
Number of subscribers by segment of activity at 30th June 2011
At 30th June 2011, the Group had 585,187 subscribers to its offers, 467,052 of them active.
Gross base | Active base | |||||||
30/06/2011 | 31/03/2011 | 30/06/2011 | 31/03/2011 | |||||
Mobile | 440,767 | 429,301 | 331,849 | 321,687 | ||||
Fixed | 77,250 | 76,593 | 71,934 | 71,228 | ||||
Internet | 67,170 | 66,822 | 63,269 | 61,841 | ||||
of which: Broadband | 57,802 | 57,290 | 55,911 | 54,409 | ||||
TOTAL | 585,187 | 572,716 | 467,052 | 454,756 | ||||
General description of Outremer Telecom's financial situation and results
Outremer Telecom recorded buoyant growth over the 1st half of 2011 in the French West Indies and French Guiana zone, which was offset by a downturn in activity in the Indian Ocean zone.
Over the 1st half of 2011, Outremer Telecom recruited close to 30,000 net new subscribers, a satisfactory performance, which illustrates the pertinence of the Group's positioning in the French Overseas Regions.
The Group is reaffirming its target of generating EBITDA of over ?54m in 2011.
Lastly, the transaction announced on 27th June 2011, regarding the divestment by Apax and Jean-Michel Hégésippe of all of their Groupe Outremer Telecom shares (52.26% of the Company's share capital) to OMT Invest (controlled by Axa Private Equity), was finalised today, 28th July 2011.
This operation was carried out after authorisation was granted by the Competition Authority.
About Outremer Telecom
Founded in 1986, Groupe Outremer Telecom has established itself in the French Overseas Regions (Martinique, Guadeloupe, French Guiana, Reunion and Mayotte) as the leading alternative telecom operator able to offer a full range of fixed line, mobile and Internet access services for both residential and business customers. Groupe Outremer Telecom has developed its own telecom network and has a single brand; Only. The group intends to develop the convergence of its various offers, its business customers and pursue its innovative and competitive services.
2011 first-half results will be published on Wednesday 31st August 2011
1 Q1 and Q2 2011 data is unaudited
Groupe Outremer Telecom
Vincent Fabre
Chief Financial
and Administrative Officer
investisseurs@outremer-telecom.fr
or
NewCap.
Financial
Communications Agency
Simon-Laurent Zaks / Pierre Laurent
Tel.:
+33 (0)1 44 71 94 94
Fax: +33 (0)1 44 71 94 90
outremer-telecom@newcap.fr