Annual report (20-F) - Ono

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addition our broadband Internet service allows unlimited downloads. We price our service on a flat fee basis (with no usage fees) starting at €29.90 per month for 150 kbps. In addition to offering price savings as compared to other operators, the Organización de Consumidores y Usuarios, Spain’s influential consumer organization, ranked our broadband services number one in terms of both downloading and surfing speeds in February 2004. Our Internet service offerings consist of the following: Monthly Charge(1) bundled unbundled Installation Transfer speeds 150 kbps Unlimited € 44.80 € 29.90 60.90 150 kbps 600 kbps Unlimited € 47.85 € 35.90 60.90 600 kbps 1 Mbps Unlimited € 57.85 € 39.95 60.90 1 Mbps (1) Does not include monthly rental of cable modem for €8.99 or purchase of cable modem for €60. Installation of an Ethernet PC card is optional for €89.99. In addition, our Kit ONO WiFi and Kit ONO WiFi Lan products offer wireless broadband Internet services, at an installation charge of €176.99 or €199.99, respectively. As of December 31, 2004, we had approximately 3,100 customers taking our narrowband dialup service at 56 kbps, representing 1.2% of our total Internet service customers. While we continue to provide narrowband Internet access to existing customers we do not actively market this service to new customers. In addition, we are encouraging our narrowband customers to migrate to our broadband Internet services by offering free installation, and by pricing our lowest cost broadband offering at the same price as our narrowband services. Cable Television We provide our television customers with multi-channel pay television with basic to premium packages. In addition, we offer all of our television customers pay-per-view services, broadcasting premiere movies and live soccer content on our own Fila ONO channels. To enhance the service we provide to our customers and to reduce piracy of the signal, we encrypt our television content. A decoder is required to receive the service, which is rented to our customers for €6.49 per month. Customers can subscribe to our television services as part of a bundled package or on an individual basis. We offer our television services in a range of television packages at different price levels in order to address the widest possible cable television audience. We also broadcast various local and regional television channels that are not offered by the satellite television provider in Spain. The programming offered to our customers contains a wide selection of television series, movies, sports, news, music, documentaries and children’s’ channels including, among others, the following: Disney channels, ESPN, Eurosport, MTV, Fox, Hollywood, Paramount Comedy, Showtime, CNN and Discovery channel. We also offer pay-per-view movies from Hollywood studios, U.S. independent producers and Spanish and European producers. We have entered into contracts with affiliates of Sogecable to provide us with premier Spanish soccer pay-per-view programs, including Spanish league and King’s Cup soccer. These contracts will terminate in 2009, unless otherwise extended or renewed. When we first launched commercial services in 1998, we offered our customers analog cable television services. In 2003, we finished the deployment of our digital television platform, the installation of our state-of-the-art national digital head-end in Madrid and the development of our own electronic program guide and our digital channel line-up. Since June 2003 we offer digital television in all of our franchise areas. Following the launch of our digital television services, we discontinued the marketing of analog services to new customers although we continue to provide analog services to our existing customers. At the end of 2004, 53.1% of our television customers were subscribing to our digital services. In 2004, once we had achieved sufficient operational experience in digital services we commenced a pro-active migration of existing analog customers to our digital services. We anticipate that this migration process will take several years to complete. 28
Digital Television The introduction of digital television has allowed us to increase our television customer ARPU due to both the increase and enhancement of our channel line-up and the increase of our pay-per-view buy rates. Our digital television services increase the take up of pay-per-view programming through the use of near-video-on-demand, a service which allows our customers to access pay-per-view movies that commence at fifteen minute intervals. We provide our customers with more than 150 digital television channels, including 54 channels reserved for near-video-on-demand as well as our electronic programming guide. From our state-of-the-art digital television center in Madrid, we broadcast to all of our customers using our national network. We expect to offer interactive digital television services in the future, including Internet access, TV mail and consumer applications, such as games, through the television set. We are in the process of launching a full video-on-demand service. We believe that videoon-demand will provide us with a competitive advantage over the satellite television operator, Digital+, who does not currently have the technological capacity to offer such a service. We aim to introduce video-on-demand in the second half of 2005. Based on the success of our analog television offerings, we designed our digital television offer using a two package structure. These packages are called ORO D and PLATINUM D. The table below shows the number and type of channels available to subscribers of our digital television service packages, and the monthly retail charge for each package: ORO D PLATINUM D Digital offer(1) Pay channels 36 83 Terrestrial channels 13 13 Fila ONO pay-per-view channels 54 54 ONO channels 2 2 Adult channel 1 1 Total TV Channels(1) 106 153 Audio channels 5 25 Total Channels(1) 111 178 Monthly charge(2)(3) € 18.90 € 33.90 Adult channel additional charge € 8.90 € 8.90 (1) The number of channels may vary depending on the franchise. (2) Does not include adult channel. (3) Does not include an additional fee of €6.49 per month for a decoder. Analog Television We provide our analog services to our existing subscribers using a selection of tiered packages called MINI, ORO and PLATINO, all of which provide access to our 11 Fila ONO pay-per-view channels. 29
Page 1 and 2: SECURITIES AND EXCHANGE COMMISSION
Page 3 and 4: “RGUs” are revenue generating u
Page 5 and 6: CONTENTS Clause Item 1. Identity of
Page 7 and 8: PART I Item 1. Identity of Director
Page 9 and 10: Reconciliation between EBITDA and n
Page 11 and 12: The table below shows the high and
Page 13 and 14: significant qualifications and exce
Page 15 and 16: • consolidate our brand in the ma
Page 17 and 18: operating and financial performance
Page 19 and 20: the products and services we offer
Page 21 and 22: • our ability to access the finan
Page 23 and 24: In March 2005, Cableuropa performed
Page 25 and 26: Our Strategy experience with cable
Page 27: We offer the following bundled serv
Page 31 and 32: annual revenue of around €1 milli
Page 33 and 34: them are trained in our specific in
Page 35 and 36: • Andalucía Cluster. The Andaluc
Page 37 and 38: • Television line-up. Sogecable h
Page 39 and 40: In accordance with the General Law
Page 41 and 42: Telecommunications further requires
Page 43 and 44: Obligations According to the releva
Page 45 and 46: second telephony lines. The network
Page 47 and 48: Address Current Use Size (square me
Page 49 and 50: Address Current Use Size (square me
Page 51 and 52: The following are the key factors a
Page 53 and 54: The following table sets forth reve
Page 55 and 56: The following table sets forth cert
Page 57 and 58: total revenues to 28.6% for the yea
Page 59 and 60: Net Extraordinary Income/(Expense)
Page 61 and 62: needed before commercial launch of
Page 63 and 64: Net cash provided by financing acti
Page 65 and 66: A number of these contracts are sub
Page 67 and 68: All decisions regarding our busines
Page 69 and 70: Leopoldo Calvo-Sotelo became an ind
Page 71 and 72: Audit and Compliance Committee GCO
Page 73 and 74: E. Share Ownership Currently none o
Page 75 and 76: The shareholders’ agreement provi
Page 77 and 78: Dividend and Liquidation Rights Pay
Page 79 and 80:
• the aggregate increases approve
Page 81 and 82:
As security for the senior bank fac
Page 83 and 84:
The Indentures also provide for eve
Page 85 and 86:
par value shares and subject to adj
Page 87 and 88:
Where interest has been paid under
Page 89 and 90:
the avoidance of double taxation. H
Page 91 and 92:
possible application of the passive
Page 93 and 94:
a sale, exchange, retirement or dis
Page 95 and 96:
The table below shows the variable
Page 97 and 98:
Item 16C. Principal Accountant Fees
Page 99 and 100:
No. 333-10976)). (Now superseded.)
Page 101 and 102:
Form F-4 (File No. 333-109976)). 4.
Page 103 and 104:
INDEX TO THE CONSOLIDATED FINANCIAL
Page 105 and 106:
CABLEUROPA, S.A.U. AND SUBSIDIARIES
Page 107 and 108:
CABLEUROPA, S.A.U. AND SUBSIDIARIES
Page 109 and 110:
Other subsidiaries: Company Name He
Page 111 and 112:
d) Foreign exchange rate options Fo
Page 113 and 114:
Had the life of this debt not been
Page 115 and 116:
6. Start-up costs Euro thousand Bal
Page 117 and 118:
) Finance leases Computer hardware
Page 119 and 120:
9. Financial assets Euro thousand B
Page 121 and 122:
The detail of short and long term d
Page 123 and 124:
Cancellation in 2003 of MBCF relate
Page 125 and 126:
(e) State Subsidies Starting in 200
Page 127 and 128:
Options granted under the Phantom P
Page 129 and 130:
(c) Reserves (accumulated losses) i
Page 131 and 132:
(c) The movement in deferred tax as
Page 133 and 134:
In 2004, 2003 and 2002, the Group
Page 135 and 136:
Transactions Services received Serv
Page 137 and 138:
Euro thousand 2004 2003 Audit servi
Page 139 and 140:
Euro thousand 2004 2003 2002 Change
Page 141 and 142:
Reconciliation of net profit / (los
Page 143 and 144:
Management of the Group considered
Page 145 and 146:
(n) Start-up costs. Under Spanish G
Page 147 and 148:
Amortization expense related to int
Page 149:
(h) Leases The group leases certain
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Annual report (20-F) - Ono

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