Liberty Global improves customer numbers in Q3

Friday 6 November 2015 | 08:23 CET | News

Liberty Global reported improving customer numbers in the third quarter, with the net addition of 320,000 new subscribers. Growth was led by Germany (102,000) and the UK (68,000), while Ziggo in the Netherlands (-18,000) still struggled to turn around its performance since the merger with UPC. Liberty Global said it's still aiming to add over 1 million new subscribers in the full year, after 526,000 in the first nine months of the year. 

In Europe, the cable operator added 300,000 subscribers in Q3 to finish September with a total 53.2 million revenue-generating units, at 48.8 million homes passed in Europe. The company averaged 2.06 services per customer, and 45 percent of customers were on a triple-play plan. Liberty Global also added 339,000 new subscribers for its Horizon and Tivo platforms in the quarter, for a total of over 4 million. 

Revenue in Europe rose just 2 percent to USD 4.3 billion, hurt by the stronger dollar. Excluding forex and acquisition effects, organic revenue rose 3.5 percent year-on-year, helped by expansion in broadband, business services and the mobile market. Operating cash flow in Europe rose 4 percent to USD 2.1 billion, and capital expenditure increased to USD 981 million, or 22.9 percent of revenue, from USD 845 million a year ago. 

Liberty Global maintained its full-year outlook for mid single-digit organic revenue growth and said it expects operating cash flow in Europe to grow at a stronger rate in Q4 than the 1 percent year to date. 

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