DGAP-Adhoc: Kabel Deutschland Holding AG: Kabel Deutschland releases selected preliminary figures for Q2 FY 2013/14 and updates its guidance for the fiscal year

Kabel Deutschland Holding AG / Key word(s): Change in Forecast/Development of
Sales

09.10.2013 18:15

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Unterfoehring, October 9, 2013 - Kabel Deutschland Holding AG ('Kabel
Deutschland', or 'the Company') released selected preliminary figures for
the second quarter ended September 30, 2013 of fiscal year 2013/14 ending
March 31, 2014.

In the second quarter of fiscal year 2013/14, the Company's Internet &
Phone business continued to trend strongly with 84 thousand subscriber net
adds. Premium TV recovered after a soft Q1, adding 55 thousand RGUs in the
quarter. Premium TV performance in the second quarter was affected by
extraordinary churn of approximately 15 thousand remaining Kabel BW Pay TV
wholesale customers.

After a slowdown in Q1, revenue growth resumed in Q2 with a EUR7 million
increase quarter on quarter. Quarterly revenues increased by 4.0% to EUR471
million year on year driven by the recovery in Premium TV and strong trends
in the Internet & Phone business. On a pro forma basis - excluding public
broadcasters' carriage fees - revenues were up 5.7% year on year.

Given a revenue shortfall in Q1 and based on a 6 months review, it is now
unlikely that revenue growth can be caught up for the full fiscal year.
Therefore, management updates its revenue guidance to an expected revenue
growth of 5% to 6% for the fiscal year, down from approximately 8%
previously (on a pro forma basis excluding EUR25 million of carriage fees
from public broadcasters in fiscal year 2012/13 and any carriage fees from
public broadcasters in fiscal year 2013/14).

The Vodafone transaction triggers certain events which will negatively
impact Kabel Deutschland's net income by approximately EUR205 million in
this fiscal year. The biggest portion relates to the loss of deferred tax
assets which are either at risk due to change-of-control regulations or no
longer effective after completion of the intended domination and
profit-and-loss transfer agreement with Vodafone. The other effects include
financing related costs as a result of the prepayment of the existing
senior credit facilities and other transaction costs.

In light of the takeover of more than 75% of shares by Vodafone and the
implied negative net income effect, Kabel Deutschland can currently give no
guidance on the shareholder return for FY 2013/14. The Company will
consider and decide on a potential new distribution proposal for this
fiscal year at a later point in time.

The Company guidance for adj. EBITDA margin, Capex and leverage for this
fiscal year remains unchanged.

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Language: English
Company: Kabel Deutschland Holding AG
Betastraße 6-8
85774 Unterföhring
Germany
Phone: +49 (0)89 960 100
Fax: +49 (0)89 960 10 888
E-mail: presse@kabeldeutschland.de
Internet: www.kabeldeutschland.com
ISIN: DE000KD88880
WKN: KD8888
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart

End of Announcement DGAP News-Service

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