Distribution to the shareholders

Le 14 / 10 / 15 | Posté par Xiao-ou HSU
Distribution to the shareholders

The Board of directors of Numericable-SFR proposes a distribution to the shareholders of EUR 5.7 per ordinary share, corresponding to a total amount of about EUR 2.5 billion, drawn from the share premium account.

Based on the last stock market price of EUR 42.11, the return offered by this distribution is in excess of 13%.

This distribution does not affect the financial capacity of Numericable-SFR, whose profitability is improving continuously since the end of 2014. The synergies plan announced at the time of the acquisition of SFR by Numericable runs ahead of guidance, as previously indicated when the Q2 results were released, and should continue in the coming years. The strategy allowed Numericable-SFR to reposition, recover and generate profits ahead of expectations.

Numericable-SFR emphasizes that the group will continue to comply with its undertakings in terms of investments and innovation, in particular in respect of its ambitious plan to deploy 4G/4G+ and fiber with 7.7 million plugs by the end of 2015, 12 million in 2017 and 15 million in 2020, as well as the mobile phone coverage of white areas.

This distribution will be funded by a loan of at least EUR 1.6 billion as well as available cash for the balance. Financing of the loan has been fully committed without any condition.

Numericable-SFR is taking advantage of favourable market conditions to improve its balance sheet efficiency. Following this distribution, Numericable-SFR’s net leverage (net debt / EBITDA) will remain well below 4 times - at a similar level to the one of November 2014 at the time of the acquisition of SFR - with an average maturity of 6.1 years and an average cost of close to 5%.

The Board of directors of Numericable-SFR will convene a General Meeting to take place on December 15th 2015 at the latest, called to decide on the distribution. The distribution will take place within 30 days of the General Meeting.

Investor Relations Contact : +33 1 85 06 10 75 Olivier Gernandt - ogernandt@ncnumericable.com