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Sogecable reduces to its losses a 52% but it loses subscribers
In spite of the improvement with respect to the previous year, the number of subscribers to Digital+ when finalizing 2004 was of 1.65 million, which supposes a loss of 150,000 subscribers respect the previous exercise

Sogecable, the operator of pay television controlled by Telephone and the group Haste, has located its net loss in 156,2 million Euros during 2004, which supposes an improvement of 52.6% with respect to the previous year. In spite of this important reduction, the company/signature has surpassed the forecasts of the analysts, whom they considered that the red numbers of the company during the past fiscal year would be of 116 million.

According to it has explained the company through an official notice sent to the National Commission of the Market of Valores (CNMV), the reduction of his losses must to the fusion that Sogecable carried out with the platform Via Digitalis in 2003 July. For 2005 the new platform is outstanding that hopes to close the year with benefits.

During the past fiscal year the gross result of operation (ebitda) of the operator was of 286.1 million Euros, which supposes a spectacular growth of 67.5% with respect to 2003. As far as his total income, throughout 2004 Sogecable it registered an ascent of 20.8%, up to 1,418 million.

In spite of the spectacular thing of the numbers, the group has not managed to reach the forecasts of the analysts, who located the increase of their income in a 20.9%, whereas the considered growth of ebitda was of 75.3%.


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