Liberty Global delivers ‘best Q3 adds in history’ after strong triple-play take-up

3 Nov 2011

International cable company Liberty Global Inc (LGI) has reported consolidated revenues of USD2.61 billion for the three months ended 30 September 2011. This figure represents an increase of 16% on the USD2.25 billion recorded in the same period a year ago. Meanwhile, LGI reports that operating income increased from USD446.7 million during 3Q10 to USD521.9 million during the year-later period. For the three months ended 30 September LGI reported CAPEX of USD474 million (18% of revenues), up slightly year-on-year. The company booked a net loss of USD344.0 million for the third quarter, compared to a loss of USD315.7 million a year earlier. Meanwhile, LGI’s European cable division, UPC, reported revenues of USD1.57 billion in 3Q11, up 3.9% on the USD1.33 billion recorded in the corresponding period a year ago.

UPC – which comprises companies in Germany, Netherlands, Switzerland and other countries across both western and eastern Europe – reported 13.74 million customer accounts at end-September, up from 13.42 million one year earlier; UPC credits the customer gains to its ‘compelling triple-play offers’ and the impact of acquisitions, such as Aster in Poland. In terms of multi-play bundles, UPC single-play customers decreased 5.0% to 5.51 million, whilst double-play subscriber figures rose 6.4% to 2.78 million. Triple-play bundle users saw the largest percentage increase, growing 19.3% to 4.28 million.

Liberty Global President and CEO Mike Fries commented: ‘Our third quarter results highlight the increasing traction of our triple-play offers which were instrumental in delivering our best Q3 subscriber growth in history. Given the current environment, we continue to be impressed with our European operations, which produced approximately 90% of our Q3 net additions. With the fastest broadband speeds available and a stronger price value relationship than our DSL-based competition, we are clearly gaining share in key markets’.

United States, Liberty Global (incl. LGI)