Liberty Global turnover edges up 1.6%

11 May 2016

UK-based cable provider Liberty Global has registered a 1.6% increase in total revenue for the three months ended 31 March 2016, booking turnover of USD4.59 billion for the period The inclusion of BASE in Belgium contributed to the expansion, with revenue from Belgium jumping 21.4% year-on-year, although this was partially offset by negative foreign exchange movements in Europe. Operating cash flow (OCF) was USD2.12 billion, up by 0.9% from USD2.10 billion in Q1 2015, with growth of 12.4% in its Latin American division, LiLAC, offsetting a 6.1% decrease in its Central and Eastern European operations. Similarly, LiLAC’s free cash flow (FCF) for Q1 2016 was USD19.9 million, compared to a loss of USD25.7 million a year earlier, but across the group’s other operations free cash flow reversed from USD355.7 million in 2015 to a loss of USD104.9 million, due largely to a USD291.2 million increase in financing costs.

In terms of subscriptions, Liberty counted 6.82 million mobile users at 31 March 2016 compared to 4.79 million at the end of December 2015, with the inclusion of BASE in Belgium adding 2.00 million subscribers to the company’s books. In the fixed segment the group reported a total of 53.64 million revenue generating units (RGUs), up from 53.53 million three months earlier and 52.73 million at end-March 2015. Customer relationships, however, dipped slightly, falling to 25.72 million from 25.78 million in December 2015 and 25.79 million in Q1 2015.

United Kingdom, Liberty Global (incl. LGI)