Investor Presentaiton
VOO is a leading cable operator in Wallonia and Brussels¹
Created in 2006, VOO is the 2nd largest telecom operator in its coverage area (Wallonia and 30% of
Brussels)
VOO offers broadband, payTV and fixed telephony services (OP-4P) under 3 brands: VOO (core FBB offer),
BeTV (Pay-TV) and Zuny (digital-driven internet) and mobile services as a full MVNO on Telenet network
720k customers in B2C and B2B/Soho in 2020
c.90% of revenues are generated in the B2C segment with growing B2B/SoHo segment
2020A market shares in coverage area: Fixed broadband 30-40%¹, Pay-TV 40-50%¹ and Mobile 10%-20%1
Belgian public sector
shareholders
100%
ENODIA
100%
nethys
100%
VOO SA transaction
scope
Mobile customer base
FY'20
15% yoy
VOO's Revenue | €m
Broadband customer
303k
base FY'20
513k
46.8%3
48% convergent customers4
1.7%
0.3%
515
517
3.5%
535
2019
2020
2021e
VOO SA
(VOO + Brutélé TMT)²
50.1%
BeTV
ACM
100%
100%
WBCC
VOO's EBITDAaL5 | €m
VOO'S CAPEX5 | €m
7.5%
6.0%
(0.7%)
(8.7%)
(14.3%)
22.5%
yoy%
35.1%
37.1%
35.6%
31.5%
26.9%
31.8%
% Sales
181
192
190
162
139
170
2019
2020
2021e
2019
2020
2021e
Notes: (1) Total subscribers; (2) Contribution of Brutélé's TMT business to VOO SA at closing; (3) Remaining 3.1% stake currently held by SOCOFE SA contributed at closing; (4) Customers with at least mobile and broadband
subscriptions / total broadband customer; (5) EBITDA and Capex pre-IFRS 16 as reported by VOOView entire presentation