Cablevision Holding SA (FRA:B47)

Q1 2026 Cablevision Holding SA Earnings Call Transcript

May 13, 2026 / 03:00 PM GMT

Release Date Price: €3.52 (+0.57%)

Transcript

Key Points

Positve

Cablevision Holding SA (CVHSY) reported a significant increase in EBITDA margin to 38% in Q1 2026, up from 33.6% in Q1 2025, driven by cost efficiencies and the deconsolidation of a fintech subsidiary.
The acquisition of Telekonica Mobides de Argentina (TMA) contributed positively to the company's financial performance, with TMA's results fully incorporated in Q1 2026.
Revenues in nominal terms increased by 72% in constant currency, largely due to the incorporation of TMA and higher mobile ARPU in Argentina.
The company maintained a solid financial position despite increased indebtedness from the TMA acquisition, with a net debt to adjusted EBITDA coverage ratio of 1.5 times.
Investments as a percentage of revenues increased to 21.8%, highlighting the company's commitment to expanding its fixed and mobile networks, particularly in fiber-to-the-home and 5G infrastructure.

Negative

Argentina's economic environment remains challenging, with accelerating inflation and global uncertainties linked to the Middle East conflict impacting the market.
Despite revenue growth, equipment sales decreased by 39.7% due to prices increasing below inflation and lower quantities sold.
Fixed telephony and data services revenues decreased by 10.4%, attributed to a decline in fixed telephony accesses and lower ARPU.
The company's debt profile includes a significant portion of cross-border dollar-denominated debt, which could pose risks given currency fluctuations.
Monthly churn rates increased for both mobile and broadband subscribers, indicating potential challenges in customer retention.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CVHm.BA - Cablevision Holding SA
Q1 2026 Cablevision Holding SA Earnings Call
May 13, 2026 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, you have been connected for cable present holding conference call. The call will begin shortly. Requested to please stay connected.

Reminder to all the participants that you have been connected for CableVision holding conference call. The call will begin shortly. Request you to please stay connected.

Thank you.

Good morning and welcome to Cablevision Holding's conference call. My name is Banish and I will be your conference operator today.

After the speaker remark, there will be a question-and-answer session. You may submit your question throughout the event by clicking in the submit a question box on your screen.

Today we will discuss Cablevision Holding first

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