UPC Holding B.V., the Netherlands-based media company with cable and telephone holdings in 11 countries, reported revenues rose 10% year-on-year to €827 million in the first half. The increase was driven primarily by subscriber growth as well as the acquisition of Karneval, the No. 2 cable operator in the Czech Republic.
UPC's parent company, Liberty Global, said the subsidiary's operating income rose 130% to €67 million in the first half, while operating cash flow increased 22% to €347 million. Liberty Global attributed the rise in operating cash flow to its operations in Chile and the Netherlands, as well as those in Hungary and Poland. In terms of subscriptions, UPC ended the second quarter with a total of 14.7 million, of which 2.8 million or about 27% subscribed to two or more products, said the statement issued Aug. 9. Subscription additions for broadband Internet were driven primarily by growth in the CEE countries of Hungary, Poland and the Czech Republic as well as in Chile. However, total video subscribers decreased by 80,000 in the second quarter, primarily because of continued video competition in Romania and Hungary. UPC Holding owns businesses in Europe and Chile that provide video, broadband Internet access and telephone services through broadband networks. As of June 30, its networks passed approximately 15.8 million homes and served about 10 million video subscribers, 2.9 million broadband Internet subscribers and 1.8 million telephone subscribers.