Altice International - comment

Our main takeaway from yesterday’s call was the confirmation that Altice International was in discussions to sell a stake in its Israeli operations to deleverage its balance sheet.  The Company also confirmed there would be no dividend to the parent Company in FY25. 

EBITDA has continued to decline, mainly driven by reduced activity in the Altice Labs segment. Despite the increased competition in the Portuguese market, Altice International appear to be able to maintain its customer base. Revenue increased, although this is driven by its energy offering (in conjunction with telephony). Cash flow has shown a modest increase.