The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Cable Bahamas is “aiming to reach” 30,000 subscribers with its new fibre-to-the home network by end-June 2025 while promising shareholders of “continued growth” in profits and earnings per share (EPS).

The BISX-listed communications provider, writing in its 2024 annual report and ahead of today’s annual general meeting (AGM), said the continued roll-out of its Aliv Fibre infrastructure across New Providence promises to “unlock new revenue streams” associated with the expanded use of technology.

Confirming that it is still assessing the business case for fifth generation (5G) mobile networks and associated technology, Cable Bahamas informed investors: “We will continue to prioritise the expansion of our fibre technology, aiming to reach 30,000 subscribers by the end of 2025.

“This investment in network infrastructure will unlock new revenue streams, particularly in high-demand areas such as IoT (Internet of Things), smart city solutions and enterprise services, positioning us as a market leader in the digital era. We also expect strong growth from the continued deployment of fibre-optic broadband, enabling faster, more reliable Internet access for both residential and business customers.”

Unveiling its other goals for 2025, Cable Bahamas pledged: “Improving our customer experience remains a central pillar of our strategy. In 2025, we will focus on delivering personalised, seamless services across our mobile, broadband and TV platforms.

“The ongoing integration of AI-powered support and digital tools will enhance our ability to address customer needs quickly and efficiently, reducing churn and driving higher customer satisfaction. Our investment in digital services will accelerate, with a focus on monetising our streaming platforms and cloud solutions for corporate clients.

“As customers increasingly seek bundled services that combine mobile, broadband  and TV, we are well-positioned to offer attractive, comprehensive solutions that strengthen customer loyalty and increase ARPU (average revenue per unit).”

Ahead of today’s AGM, Cable Bahamas unveiled modest net income of $444,000 for the 2025 first quarter, which represents a 55.2 percent decline compared to the $990,000 achieved during the three months to end-September 2023. While revenues rose slightly by just over $550,000 to $60.538m, operating expenses rose by around $1m year-over-year to cause a fall in operating income to $6.835m.

Nevertheless, Cable Bahamas wrote in its annual report: “We anticipate continued revenue growth across our core business segments – mobile, broadband and corporate services - leveraging customer demand for high-speed connectivity and digital services.

“Maintaining our profit margins and EBITDA (earnings before interest, taxation, depreciation and amortisation) growth remains a key focus despite cost pressures from inflation and increased competition. Our plans to invest in capital expenditure are aligned with our long-term goals, and we expect to deliver sustainable returns to shareholders through dividend payments....

“Looking forward, we are confident that we will continue to generate sustainable growth, driven by our strategic investments, operational excellence and customer-centric approach. With a strong balance sheet, robust network infrastructure and a growing portfolio of digital services, we are well-positioned to deliver value for both our customers and our shareholders in the future,” the BISX-listed communications provider added.

“Cable Bahamas group is poised to deliver strong positive cash flows post its significant investment in Aliv Fibre. The group will continue its strategic goals of seeking additional growth opportunities, deleveraging its balance sheet and providing enhanced returns for its shareholders.”

Franklyn Butler, Cable Bahamas’ president and chief executive, told shareholders that the roll-out of the company’s “more efficient” fibre-to-the-home network infrastructure helped to reduce the group’s energy demand and save “over 2,600 tonnes of carbon dioxide annually”.

“Our most significant achievement of this year has been the continued rollout of ALIV Fibre, our next-generation fibre-to-the-home (FTTH) service,” he wrote. “ALIV Fibre represents the future of connectivity in The Bahamas, bringing the fastest Internet speeds and unparalleled reliability to Bahamian homes.

“By the end of fiscal year 2024, we passed 88,000 homes and connected 10,000 homes here in New Providence having spent a cumulative sum of $70m of the planned $85m - a major achievement. In addition to the reach of ALIV Fibre, the technology itself is revolutionary.

“Offering download speeds of up to 1Gbps (gigabyte per second), ALIV Fibre provides the speed and bandwidth necessary to support high-definition streaming, smart home systems and the increasing demands of digital workspaces. This is not just about faster Internet - it’s about giving Bahamians the tools they need to stay competitive and connected in today’s fast-paced world.”

Turning to Aliv’s mobile operations, Mr Butler said: “While our fibre network expansion has been a major focus, we are also laying the groundwork for the next major leap in telecommunications: 5G. Aliv’s network, established just seven years ago, is the newest and most resilient in The Bahamas, built to first-world standards with future-proof capabilities.

“Currently operating at 4.5G LTE (long-term evolution technology), this robust infrastructure is poised for the upgrade to 5G technology, which will bring ultra-fast mobile data speeds, low latency and enhanced connectivity. We are working closely with URCA to monitor their plans for spectrum allocation and necessary framework to explore making 5G a reality.”

Echoing this outlook, Ross McDonald, Cable Bahamas’ chairman, said: “At the end of 2024, our Aliv shareholders took significant steps to strengthen the company’s financial position, which included reducing expenses and improving our balance sheet.

“Following the past fiscal year, Aliv raised $120m in new preferred shares, replacing existing debt, extending debt maturities and providing $60m in new capital for investment and working capital requirements. This substantial funding boost will enable us to drive progress, maintain our market leadership and provide value to our customers and shareholders.”