Liberty Global subscriber growth improves in Q2

Nieuws Breedband Europa 5 AUG 2016
Liberty Global subscriber growth improves in Q2

Liberty Global reported an improvement in customer growth in the second quarter, adding 277,000 revenue-generating units in the three months on an organic basis, for a total of almost 53.9 million at the end of June. The quarterly growth was twice as many as a year ago and also up on 156,000 in Q1. ARPU was down 0.4 percent year-on-year to USD 44.65, but grew 1.5 percent after excluding currency effects, thanks to growth in Germany and Belgium. 

The cable operator's revenue was up 11 percent year-on-year to USD 5.074 billion, driven by the acquisition of Base in Belgium, and operating cash flow rose 5.5 percent to USD 2.306 billion. 

Liberty Global said organic revenue growth reach 3 percent in Europe, led by expansion at Unitymedia in Germany (+7%), Telenet in Belgium (+3.5%) and Virgin Media in the UK (+3%), which offset a drop in sales (-3%) at Dutch operator Ziggo. The company said it expects higher growth at Virgin Media in the second half, driven by broadband upgrades and ARPU improvements, while Ziggo's results will remain under competitive pressure, offset by price increases in July. 

Operating cash flow in Europe rose 1 percent on an organic basis to USD 2.1 billion, while operating profit was down 9 percent to USD 509 million, hurt by restructuring and impairment charges. Capital expenditure rose to USD 1.1 billion or 24.6 percent of revenue, from USD 971 million or 22.8 percent of revenue in Q2 2015. 

Liberty Global said it expects organic growth of 3-4 percent over the full year in operating cash flow in Europe, including the acquisition of Base in February. Free cash flow is expected at USD 1.8 billion over the full year, after USD 516 million in H1. The FCF outlook was lowered from USD 2 billion to reflect new exchange rates and includes Ziggo for the entire year. 

Liberty Global said it was on track with plans to add over 1.5 million homes passed to its network this year, with over 500,000 added in the year to date. The company is also continuing its share buyback, with around USD 700 million spent in Q2. 

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Vast

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Liberty Global

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Europa

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Voice services, Financial figures, Cable - Docsis, Internet Access

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