Operator results N56

UGC (UnitedGlobalCom)  reported 2004 revenues of $2.5bn (+34%) and a net loss of $382m (vs. profit of $2bn). UGC added 553k new users in 2004 to reach about 11.6m users. Free cash flow increased 272% to $ 219m.

Iliad (France) delivered strong profitable growth of 68% in 2004 revenues to $491m, +103% growth rate in EBITDA to € 108.7m  and +21% growth rate in net income to €40.8m. Its ISP unit Free had 1m subscribers at the end of 2004, of which 70% were triple-play equipped, 60% were using telephony and 7% were using pay-TV. Its success is driven by low prices and attractive offerings. Iliad targets to reach 1.5m users by year-end and generate an ARPU of €30. Its current market share is 17%.

NTL( UK) posted 2004 sales of £2.1bn (of which 73% in the Consumer unit,  24% in the Business unit and remaining 3% in the Ireland unit), up 6%. Net loss narrowed 17% to £484m. ARPU grew 2% to £42.4.

Telekom Austria announced that 2004 revenues increased 3.4% to €4.1bn, operating income rose 22.4% and EBITDA increased 4% to €1.57bn. Net income rose 70% to €227m. Capex was down 9% and net debt declined 25% to €2bn.

Global Crossing reports a 4Q04 loss of $27m (vs a profit of $25m), while revenues dropped 16% to $573m. Global Crossing realized 2004 revenues of about $2.5bn, but plans to 2005 revenues around $1.8-1.9bn, due to restructuration, sale of some businesses and narrow focus on the IP enterprise market.