# Sky Plc Strong Results – Well placed for the future

- Link: https://www.directorstalkinterviews.com/sky-plc-strong-results-well-placed-future/412749594
- Published: 2018-04-19T07:12:09+01:00
- Author: Giles Arbor

**Sky Plc** (LON:SKY) today announced its unaudited results for the nine months 
to 31 March 2018.

**Strong financial results**

· 5% increase in like-for-like revenue to £10.1 billion

· 14% increase in Established Business EBITDA to £1.8 billion; 10% increase in EBITDA
to £1.7 billion

· Adjusted operating costs held flat in absolute terms for a third successive year

· Statutory operating profit of £857 million, up 22%

**Consistent execution against clear strategy**

· Extended Premier League rights in UK to 2022 with more games and at a lower cost

· European partnership agreed with Netflix to bundle full service into brand new
Sky TV pack

· Sky Q penetration reached 2.5 million homes across UK, Ireland and Italy

· Commenced next stage in development of Europe’s best TV service with Spotify to
launch on Sky Q next week

· Significant upgrade started to all services in Germany & Austria and Sky Q rolling
out on 2nd May

· Agreed landmark deals in Italy with Mediaset to launch a Sky Pay-TV service over
DTT, and with Open Fiber to launch a triple-play service

· Added 480,000 new customers in the last year to 22.9 million; Q3 growth of 38,000

**Business remains on track for the full year**

> **Jeremy Darroch, SKY Plc Group Chief Executive, commented:** “It’s been a good
> quarter for Sky. We’ve delivered excellent financial results, with like-for-like
> revenues up 5% and Established EBITDA up 14%. Against the back drop of a challenging
> consumer environment, this performance reflects the continual improvement in our
> broad set of products and services and our focus on providing great value every
> single day – something recognised by customers now taking over 62 million subscription
> products from us and our services reaching over 120 million people across Europe.
> Today’s results not only demonstrate continued strong execution but also extend
> our position as Europe’s leading direct-to-consumer media business. We’re giving
> more customers the best viewing experience with the further development and roll
> out of Sky Q, now in millions of homes and launching in Germany & Austria in two
> weeks’ time as part of the ongoing transformation of our business in these markets.
> Customers can look forward to an even broader choice of entertainment through 
> our pioneering new partnerships with Netflix and Spotify, together with our new
> Premier League deal which secures the UK rights until 2022. We’re continuing to
> expand the growth opportunity of the business by concluding landmark agreements
> in Italy with Mediaset to launch a Sky Pay-TV service over DTT for the first time,
> and with Open Fiber to access their next generation fibre-to-the-home broadband
> network and launch our own triple-play service in this market.
> Looking ahead, we have the right strategy and abilities in place to provide customers
> with the best content, products and service. Whilst we expect the consumer environment
> to remain challenging, the business is in good shape and we remain on track for
> the full year.”

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