Numericable Revenue, Valuation, Funding & Investors

Numericable is valued at $10B as of March 2008, a 6.8x revenue multiple. Numericable revenue was $1.8B and Numericable EBITDA was $769M, as disclosed with its April 2014 round.

Last Numericable valuation

$10B

Secondary · Mar 2008

Numericable revenue

$1.8B

Secondary · Apr 2014

Key investors in Numericable

Numericable Overview

About Numericable

Numericable is a French cable operator and telecommunications services company that provided cable broadband, digital television, fixed telephony and mobile services. It was assembled from the French cable networks of Noos, formerly UPC France, and NC Numericable, which merged in 2006, and the group adopted the single Numericable brand in 2007. It operated the largest cable network in France, passing close to ten million households, and ran a fibre upgrade programme in major cities. Business customers were served through the Completel fibre network. Altice, Cinven and Carlyle owned the group before it listed on Euronext Paris in November 2013. In 2014 it agreed to acquire SFR from Vivendi and bought the mobile virtual operator Virgin Mobile France, and the enlarged group traded as Numericable-SFR before adopting the SFR name in 2016. Its operations were based in the Paris region and also covered Portugal, Belgium and Luxembourg.


Founded

2007

HQ

FranceParis

Status

Privately held

Customer focus

B2C & B2B

Revenue model

Subscription

Revenue

$1.8B (Apr 2014)

Valuation

$10B (Mar 2008)

Numericable Valuation

Numericable is currently valued at $10B, based on its secondary sale in March 2008. Read the announcement ↗

The round included Carlyle Group.

Numericable valuation by funding round

Numericable valuation by funding round
DateStageValuationRevenue Multiple
Mar 2008Secondary$10B6.8x

Numericable Revenue

Numericable's latest recorded revenue is $1.8B, as of its secondary sale in April 2014.

Revenue grew from $1.5B in March 2008 to $1.8B in April 2014.

Numericable revenue by funding round

Numericable revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Apr 2014$1.8B--Secondary
Mar 2008$1.5B$10B6.8xSecondary

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Numericable Funding History

Numericable has 2 recorded secondary share sales and no primary funding rounds.

Numericable funding rounds
DateStageInvestorsValuationDeal Summary
Apr 2014SecondaryAltice-Altice agreed in April 2014 to buy the Numericable shares held by the private equity firms Carlyle and Cinven, about 34.6 percent of the share capital of Numericable Group, which raised its holding to 74.6 percent from about 40 percent. Carlyle sold 21.32 percent through Carlyle Cable Investment and Cinven sold 13.27 percent. Roughly 14 percent of the capital was bought for cash at EUR 30.50 per share, and the remaining stakes of about 20.6 percent were exchanged for shares in Altice at a ratio of 0.97 Altice share for each Numericable share. The step prepared Altice's acquisition of SFR from Vivendi, which Numericable announced in the same month, and let Carlyle and Cinven leave a business they had owned since 2005 and 2008 respectively. Numericable was the French cable operator listed on Euronext Paris since November 2013, offering cable broadband, television and telephony.
Mar 2008SecondaryCarlyle Group$10BCarlyle announced on 24 March 2008 the closing of a 1.1 billion euro equity investment in Numericable and Completel, acquiring a 37.8 percent stake from existing shareholders Altice and Cinven. The transaction was made at an aggregate enterprise value of 6.5 billion euros and was described as the largest equity investment by a single private equity firm in France. Carlyle said the two companies had excellent growth opportunities based on the superior quality of their fibre networks and that it would be a strong partner to management and the existing shareholders. Numericable operates the alternative high speed network in France, covering close to 10 million households, while Completel serves corporate customers over the largest alternative metropolitan fibre access network.

Who has invested in Numericable?

2 investors have backed Numericable across its funding rounds, including Carlyle Group and Altice.


Numericable Investors

Investors in Numericable by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Numericable

Numericable has acquired 2 companies to date.

Last acquisition by Numericable was on June 30th 2014. Numericable acquired Virgin Mobile France for $351M.


Latest Acquisitions by Numericable

Virgin Mobile France
SFR
Description
Virgin Mobile France is a Paris-based mobile virtual network operator offering prepaid and contract tariffs via SFR's infrastructure. Customers access unlimited calls, high-speed data, and 5G in bundles starting from budget options. The brand provides eSIM activation and multi-SIM for families. Launched in 2003 as the first MVNO in France, it transitioned under Numericable ownership before integration into SFR services.
SFR is a Paris-headquartered telecommunications provider operating France's second-largest mobile network and fixed broadband services. The company delivers postpaid and prepaid mobile plans, 5G connectivity, fiber internet up to 8 Gbps, and business data solutions to over 20 million customers. As part of the Altice France group, SFR maintains extensive coverage through 28,000 mobile sites and invests in nationwide fiber rollout, serving residential, enterprise, and wholesale segments.
HQ CountryFranceFrance
HQ City
Paris
Paris
Deal Date30 Jun 20147 Apr 2014
Valuation$351M$18B
EV/Revenue
EV/EBITDA

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Numericable Competitors

Numericable competitors include listed companies like Goneo Group, Huaqin Co, Safaricom and Anker Innovations, and private ones like DJI and Bezeq International.

Public and private companies comparable to Numericable
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Goneo GroupChinaChinaPublicly listed$2.4B$770M$10B3.2x
Huaqin CoChinaChinaPublicly listed$26B$907M$9.7B0.4x
SafaricomKenyaKenyaPublicly listed$3.2B$1.7B$10B3.4x
Anker InnovationsChinaChinaPublicly listed$4.6B$467M$9.6B1.5x
DJIChinaShenzhenPrivate$500M-$15B-
Bezeq InternationalIsraelPetah TikvaPrivate-$1.1B$5.6B-

Numericable Public Comps

Numericable is still privately-owned, but its public comps include Goneo Group, Huaqin Co, Safaricom, Anker Innovations, Globalstar, Quebecor, Telkom Indonesia, Ooredoo Qatar, LG Corp. and Tele2.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Goneo Group$2.4B$770M3.3x3.2x10.3x10.4x
Huaqin Co$26B$907M0.5x0.4x14.1x11.6x
Safaricom$3.2B$1.7B3.6x3.4x7.0x6.3x
Anker Innovations$4.6B$467M1.9x1.5x18.4x13.2x
Globalstar$273M$126M39.1x37.6x84.9x77.0x
Quebecor$4.1B$1.7B3.9x3.8x9.5x8.9x
Telkom Indonesia$8.1B$4B1.7x1.7x3.6x3.4x
Ooredoo Qatar$6.8B$2.9B1.9x1.8x4.4x4.3x

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Common questions about Numericable

When was Numericable founded?Numericable was founded in 2007.
Where is Numericable headquartered?Numericable is headquartered in Paris, France.
Is Numericable publicly listed?No, Numericable is a private, VC-backed company.
What is Numericable's valuation?Numericable was last valued at $10B in its secondary sale in March 2008.
Who are Numericable's investors?Numericable's investors include Carlyle Group and Altice.
What is Numericable's revenue?Numericable's latest recorded revenue is $1.8B (April 2014).
Which companies are comparable to Numericable?Companies comparable to Numericable include Goneo Group, Huaqin Co, Safaricom, Anker Innovations, DJI and Bezeq International.
How many companies has Numericable acquired?Numericable has acquired 2 companies, including Virgin Mobile France and SFR.
What was the largest acquisition by Numericable?The $18B acquisition of SFR in April 2014 is the largest acquisition Numericable has made to date.

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