Altice profits in Q4, teams up with Sky to produce drama about the super-rich

Altice

 

Altice saw its opcos in France and Portugal return to revenue growth in the fourth quarter, as it announced plans to produce a TV series with Sky Vision.

Sales in France, where Altice owns SFR, snapped a 24-quarter declining streak in the three months to December to post a 0.6 percent year-on-year rise to €2.9 billion.

In Portugal, 32 quarters of revenue reverses ended as MEO registered a 0.5 percent increase to hit €580 million.

Group revenues jumped 2.7 percent to €6.1 billion as a result of the performance in Europe, plus growth in the US.

This pushed EBITDA up 15.7 percent, to €2.3 billion during the quarter.

The Q4 performance helped full-year group revenues hit €23.9 billion, up from €23.6 billion last year.

EBITDA jumped from €8.3 billion to €8.9 billion over the same period.

Altice CEO Michel Combes said: “2016 was a pivotal year for Altice as we successfully transformed the Group into a leading, transatlantic converged communications player.

“Our business is stronger than ever and we have put all the building blocks in place for continued profitable growth.”

The financial results were accompanied by the news that Altice is to produce a 10-part drama series with the production and distribution arm of Sky.

Riviera will premiere at the MIPTV event in Cannes, France, next month.

The press release said the series would explore “the dazzling depravity of morally ambiguous characters”.

However, the series will be shown exclusively on the Sky Atlantic channel in the UK, Ireland, Italy, Germany and Austria.

Altice said its involvement “sat within [our] ambitions to develop original series and… the launch of a new premium pay TV linear channel in the summer”.

The company announced plans to create new content via the launch of Altice Studios and Altice Channel Factory last September.

It did not disclose how much it was investing in the Sky venture.

Combes said: “This partnership with Sky Vision is a new step in our strategy to become a strong player in the production industry and to reach our ambition to propose the best series to our clients”.

Read more: Telefónica talks big as it invests €70 million in original content creation

 

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