Business
ZEGONA REPORTS ACCELERATING MOMENTUM AT TELECABLE
ZEGONA REPORTS ACCELERATING MOMENTUM AT TELECABLE.
About this update from Zegona Communications Plc
[{"type":"text","content":"\n \nRNS Number : 3760M Zegona Communications PLC 20 January 2016 \n\n \n \nZEGONA REPORTS ACCELERATING MOMENTUM AT TELECABLE\n \nRobust 2015 performance at Telecable with accelerating 2016 momentum\n \nLondon, January 20, 2016 - Zegona Communications plc updates investors on performance of its first acquisition, Telecable, ahead of full audited results to be issued in March 2016.\n \n· Zegona listed in March 2015 to acquire businesses in European TMT sector\n· Telecable, Spanish cable operator, acquired in August 2015 for €640 million\n· Telecable 2015 results fully in line with Zegona pre-acquisition expectations\no Continuing growth in revenue, EBITDA and cash flow\no Q4 2015 revenue growth highest in last 5 years\n· Moody's rated Telecable B1, the highest rating of any European TMT company of its size\n· Telecable is expected to deliver accelerating growth in revenue, EBITDA and cash flow in 2016, underpinned by:\no Product and service enhancements driving increased customer revenues\no Momentum in the business following strong Q4 2015 financial performance\no Price repair in the Spanish telecoms market (as anticipated when acquiring the business)\no Improving Spanish economic environment \n· Zegona continues to see significant investment opportunities in European TMT\n \nZegona very pleased with Telecable acquisition and continues to see significant investment opportunities across Europe\n \nZegona is a publicly listed operating company whose objective is to acquire businesses in the European TMT sector with a 'Buy-Fix-Sell' strategy to deliver shareholder returns through fundamental business improvements. Zegona acquired Telecable, the leading quadplay cable telecommunications operator in the Asturias region of Spain, in August 2015 for €640 million.\n \nEamonn O'Hare, Zegona Chairman and CEO, commented: \"Telecable is our first acquisition and has made a great start under Zegona ownership. We are particularly pleased with the strong finish to 2015 and are increasingly confident about Telecable's growth prospects in 2016. Telecable's growth has out-performed other players in the Span...