International cableco Liberty Global Inc (LGI) has reported net losses of USD435 million for the three months ended December 2011, compared to net profit of USD57.5 million a year earlier. For the full year 2011, LGI posted losses of USD772.7 million, down from net profit of USD388.2 million in 2010. The company attributed the losses to a net tax expense in Q4 2011, compared to a net tax benefit in the corresponding period of the previous year, whilst the decline in full year results was primarily due to a USD1.4 billion gain in 2010 from the sale of LGI’s Japanese business.
Revenue for the three-month period increased by 6.9% year-on-year to USD2.405 billion, though full year revenue growth was higher at 13.7% rising to USD9.511 billion. Operating income increased by 5% and 30% y-o-y for the quarter and year respectively, to USD408 million and USD1.8 billion. Meanwhile, annual CAPEX increased by USD200 million, from USD1.7 billion in 2010 to USD1.9 billion in 2011.
At the end of December 2011, LGI served 19.5 million unique customers, representing 32.8 million revenue generating units (RGU) including 18.4 million video, 8.2 million broadband and 6.2 million voice subscriptions. During 2011, LGI increased its RGU base by 5.8 million though 4.6 million of these were from the company’s acquisitions of Aster in Poland and Kabel BW (KBW) in Germany.