Acquisitions continue to fuel LGI revenue growth

5 Aug 2013

US-based Liberty Global Inc (LGI) has reported revenues of USD3.16 billion for the three months ended 30 June 2013, bolstered by USD401.3 million in new revenues from the recently acquired Virgin Media in the UK, which was incorporated into the group last month. LGI booked a net loss of USD11.6 million, compared to net earnings of USD701.6 million a year earlier, although results for the corresponding period of 2012 included a one-off USD924 million gain from the sale of its interest in Austar. EBIT dropped by 7.1% to USD445.2 million, whilst CAPEX grew 3.7% to USD490.3 million.

In terms of subscriber growth, LGI registered a 40.6% year-on-year increase in revenue generating units (RGUs), which totalled 47.53 million as at end-June 2013. LGI’s bid to drive the growth of multi-play services continues to bear fruit and the group’s triple-play subscriber base almost doubled from 5.63 million in Q2 2012 to 9.54 million a year later whilst, double-play subscriptions increased from 2.95 million to 3.98 million and single service customers fell by 0.7% y-o-y to 10.95 million. Consequently the average number of RGUs per customer relationship has edged up to 1.94 from 1.72 in June 2012,

United States, Liberty Global (incl. LGI), Virgin Media