The Group's Israeli mobile service, HOT Mobile, competes with several principal mobile network operators, including Cellcom, Partner, Pelephone and Golan Telecom, and MVNOs. transmission of data services and (iii) interconnection costs related to, in relation to the content activity of the Group, technical costs associated with the delivery of content, such as satellite rental costs, (iv) since the acquisition of ATS, in the Group's technical services business, the cost of raw materials used in the technical activities related to the construction and maintenance of the network, cables for customer connections, etc., and, 2014 Altice Financing Revolving Credit Facility Agreement. In 2019, supported by its positioning as a leading strategic partner for top-tier publishers, Teads signed global advertising partnerships with several of the top 100 global ad spenders. JLspQFcz. Dominican Republic. How do I remove an international add-on?
02/06/2015: New bond issue: Altice sells USD 300.0m in 2025 bonds with a 7.75% coupon: 02/06/2015 The Group's fibre and mobile technologies enable it to offer premium digital services, attractive interactive features (e.g., 'MEO Go!'
Staff costs and employee benefits are comprised of all costs related to wages and salaries, bonuses, social security, pension contributions and other outlays paid to Group employees. The Group had a current liability position of €2,794.4 million as at December 31, 2019, an increase of 14.4% compared to €2,442.7 million as at December 31, 2018, mainly composed of trade and other payables and other financial liabilities. Please refer to the Key Income Statement Items in section 14 for a definition of the key financial terms discussed and analysed in this document. On February 20, 2020, all of the lenders under the 2014 Altice Financing Revolving Credit Facility Agreement agreed to amend the 2014 Altice Financing Revolving Credit Facility Agreement to extend the maturity date to February 20, 2025, reduce the margin and make certain other changes.
Dominican Republic: For the year ended December 31, 2019, the total capital expenditures were €115.9 million (representing 20.7% of revenue in the Dominican Republic), a 3.8% increase compared to €111.7 million for the year ended December 31, 2018 (representing 18.9% of revenue in the Dominican Republic).
Founded in 2001, Altice Europe is a convergent leader in telecom, content, media, entertainment & advertising. Belmont Infra Holding, S.A. is an entity that holds 100% of BIH - Belmont Infrastructure Holding, S.A., which in turn holds a 100% interest in OMTEL. Optimum's entertainment experience brings together live TV, built-in streaming apps, 4K and more. As of December 31, 2019, this investment was classified as assets held for sale, as a result of the sale by PT Portugal of its 25% stake to Cellnex Telecom S.A. on January 2, 2020. Net result on disposal of businesses includes the gain/loss recognized on the disposal of the Group's subsidiaries. The decrease in net cash provided by operating activities is explained by the decrease in the operating profit for the year ended December 31, 2019 compared to the operating profit for the year ended December 31, 2018, and an increase in payment for pension liabilities and income taxes. As of July 3, 2018, the Group's interest in Altice Teads S.A. decreased from 98.5% to 96.2%. The Company raises debt through its subsidiaries Altice Finco and Altice Financing. The Group's customer service strategy is to increase customer satisfaction and decrease churn with high product quality and dedicated service. Please also refer to chapter 15 Defined Terms. In 2018, Media revenues also included revenues in Altice TV prior to its disposal to Altice Group Lux in May 2018. HOT remains a premium brand in the market, supported by its superior fixed network infrastructure, premium content packages, and superior customer service.
The Group's key objective is to improve its operating and financial performance by increasing operational efficiencies of its existing businesses, driving growth through reinvestment, and integrating its acquired businesses utilizing the Group's operational expertise, scale and investment support. The decrease is mainly explained by the impact of amortization of €393.7 million, partly offset by additions of €87.0 million and other immaterial movements. Non-currentfinancial assets: Financial assets amounted to €1,805.7 million as at December 31, 2019, an increase compared to €1,804.7 million as at December 31, 2018. Other IFRS 15 impacts include (i) the capitalization of commissions which are broader than the current capitalization model, along with depreciation patterns which require estimates relating to contract duration in some instances and (ii) the impact of early termination and early renewals as well as contract modifications. For information on the changes in the provisions, please refer to Note 15 to the Consolidated Financial Statements. The Group primarily services the post-paid subscriptions market, which represented approximately 46% of the Group's mobile subscriber base as of December 31, 2019, and, to a less extent, the prepaid market. This increase is largely explained by the, lease liabilities recorded as at December 31, 2019, following the adoption of IFRS 16, : Other financial liabilities including current lease liabilities increased by €87.8 million to €1,495.6 million as of December 31, 2019 compared to €1,210.8 million in the year ended December 31, 2018. Altice S.A., through its subsidiaries, operates as a cable and telecommunications company.
This increase is largely explained by the current lease liabilities recorded as at December 31, 2019, following the adoption of IFRS 16 Leases as at January 1, 2019. On a constant currency basis, revenues decreased by 7.1%, which was largely driven by a decrease in mobile residential revenues as a result of voice erosion, and a decrease in wholesale revenues, mainly due to the sale of the international wholesale voice carrier business, a transaction which closed on September 6, 2018, and lower international voice traffic.
The capital gain recorded for the year ended December 31, 2019 amounted to €1.4 million. On February 12, 2018, the Company announced the closing of the transaction to sell its telecommunications solutions business and data centre operations in Switzerland, green.ch AG and Green Datacenter AG, to InfraVia Capital Partners. Adjusted EBITDA on a constant currency basis decreased by 16.7% compared to 2018, mainly due to a decrease in fixed residential revenues in addition to an increase in purchasing and sub-contracting costs, mainly due to an increase in the cost of sale of mobile handsets associated to an increase in mobile revenues, an increase in sport channel content expense, and an increase in staff costs as a result of a new agreement with the labour unions. To an extent these movements were driven by the sale of Altice TV, which is no longer part of the Group following the sale to Altice Group Lux S.à r.l. Deferred tax liabilities: Deferred tax liabilities increased by 12.8% to reach €86.2 million as of December 31, 2019, compared to €76.4 million as of December 31, 2018. • Property, plant and equipment ("PPE"): The Group includes companies that have substantial PPE relating to their telecommunications network, which are required to enable them to run their business. The tables below set forth the Group's revenue by lines of activity in the various geographical segments in which the Group operates for the years ended December 31, 2019 and December 31, 2018, respectively: Revenues for the Group's fixed residential business decreased from €1,341.8 million for the year ended December 31, 2018 to €1,289.7 million for the year ended December 31, 2019, a 3.9% decrease compared to the year ended December 31, 2018. The Group presents Adjusted EBITDA because it believes that it is of interest for the shareholders and similar measures are widely used by certain investors, securities analysts and other interested parties as supplemental measures of performance and liquidity.
Moreover, the Group's products and services are subject to increasing competition from alternative new technologies or improvements in existing technologies. The Group expects to use these sources of liquidity to fund operating expenses, working capital requirements, capital expenditures, debt service requirements and other liquidity requirements that may arise from time to time. Since 2016, the Altice International Innovation Awards has received more than 200 applications, with the six winning projects being awarded and supported with a total value of more than € 200,000. Guarantee Facility Agreements: The 2017 Guarantee Facility Agreement and the 2018 Guarantee Facility Agreements. Israel: Fixed and mobile services are provided using the HOT telecom, HOT mobile and HOT net brands to residential and business services clients. In addition it includes the proceeds for the sales of ATSF, ACS and Altice Blue Two to Altice France for €178.1 million, €65.7 million and €480.5 million respectively.
During the year ended December 31, 2019, refinancing activities resulted in a net outflow of cash of €19.2 million, whereas for the year ended December 31, 2018 there was a net outflow of cash of €338.3 million. A detailed breakdown of finance costs (net) is provided below: For the year ended December 31, 2019, the Group's interest relative to gross financial debt totalled €606.0 million, a 0.3% increase compared to €604.2 million for the year ended December 31, 2018. Portugal: For the year ended December 31, 2019, the Group's Adjusted EBITDA in Portugal was €832.1 million, a decrease of 4.3% from €869.8 million for the year ended December 31, 2018. This decrease is mainly related to the decrease in the value of derivative assets. As of December 31, 2019, the Group had a non-current asset position of €11,263.5 million, a 4.1% increase as compared to €10,817.8 million as of December 31, 2018. Philippe Le May Chief Technology Officer. In the pay-TV market, the Group's main competitor is D.B.S. The Group recorded a net decrease of €201.9 million in cash and cash equivalents for the year ended December 31, 2019, compared to a net increase of €344.3 million for the year ended December 31, 2018. The Group continues to phase out stand-alone telephony packages as its strategy is to offer fixed-line telephony as an add-on product in its multi-play packages. Other financial expenses include other financial expenses not related to the third-party debt (excluding other long- term liabilities and short-term liabilities, other than finance leases) incurred by the Group.
The Group also has a global presence through its online advertising business Teads. Those publishers can monetize the advertising inventory through their own sales force or Teads' salesforce. In the fixed telephony market, the Group faces an erosion of market share of both access lines and outgoing domestic and international traffic due to the trend towards the use of mobile services instead of fixed telephone services. A number of new initiatives were introduced in 2019 including the successful launch of an enterprise suite for publishers, which will continue to position Teads as a strategic partner for top-tier publishers, as well as inRead Social, a new product which easily allows brands and agencies to repurpose campaign assets for distribution via the Teads platform. Altice Innovation Award. multinational telecoms and mass media company, founded and headed by the French-Israeli billionaire Patrick Drahi, and the second largest telecoms company in France, behind Orange.
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