Cablenet Communication Systems plc reported revenue of €37.1 million for the six months ended 30th June 2026, up 7.5 per cent from €34.5 million in the corresponding period last year, driven by growth in its business-to-business operations, postpaid mobile services and mobile device financing.

Cablenet Communications Systems plc is a subsidiary of GO plc , which owns 70.61 per cent of company shares. It is a leading telecommunications company in Cyprus, offering internet, cable TV, mobile, and fixed telephone home services.  

The company posted an operating profit of €338,872, compared to €198,466 in the first half of 2025, while EBITDA increased by 4.6 per cent to €10 million. However, its net loss widened to €2.13 million from €1.95 million a year earlier, largely due to higher finance costs.

Cablenet said growth in mobile subscribers continued despite a highly competitive market, although sports subscription revenue remained under pressure due to piracy. The company also noted that higher sales of mobile devices and continued investment in expanding its mobile network, including 5G capabilities, pushed cost of sales up by 14.7 per cent to €25 million. This reduced gross profit by 5 per cent to €12.1 million and lowered the gross margin to 32.6 per cent from 36.8 per cent a year earlier.

During the period, Cablenet made approximately €1.8 million in spectrum-related payments, including the final annual instalment for its 4G frequencies and another instalment towards the 5G spectrum acquired in 2020. It also confirmed that it has retained exclusive broadcasting rights for three Cypriot football clubs until May 2032, while derecognising the rights relating to a fourth club, resulting in a net gain of around €0.1 million.

The company ended the period with total assets of €128.7 million, while total equity remained negative at €5.1 million following the latest loss.

Cablenet also confirmed it expects to pay €1.6 million in interest to holders of its €40 million 4 per cent unsecured bonds maturing in 2030 on 12th August 2026.

Looking ahead, the company said it expects full-year revenue to be around 8 per cent higher than in 2025, supported by continued customer growth, expansion of its network, further gains in mobile subscribers and additional business-to-business, television, sports rights and advertising revenue streams. The board said it remains satisfied that the company has sufficient resources to continue operating as a going concern.