UK-based cable group Liberty Global has registered a 2.0% increase in total revenue for the three months ended 30 September 2016, booking turnover of USD4.313 billion for the period. The inclusion of BASE in Belgium contributed to the growth, with revenue from Belgium jumping 20.4% year-on-year to USD311.1 million, although this was partially offset by negative foreign exchange movements in Europe. Similarly, Liberty completed the acquisition of Cable and Wireless Communications (CWC) in May 2016, nearly doubling revenue from its Latin American division, LiLAC, to USD894 million. Operating cash flow (OCF) was USD2.060 billion, down by 4% from USD2.064 billion in Q3 2015, with growth of 5% in LiLAC, partly offsetting a 12.0% decrease in its European operations. LiLAC reported negative free cash flow (FCF) for Q3 2016 of USD39.3 million, compared to a positive USD11.5 million a year earlier, but across the group’s consolidated operations free cash flow dropped from USD770.3 million in Q3 2015 to USD519.0 million, due largely to the net effect of higher interest payments and lower benefits from capital-related vendor financing activities.
In terms of subscriptions, Liberty counted 6.802 million mobile users at 30 September 2016, compared to 6.737 million at the end of June 2016, while the inclusion of LiLAC Group added 3.619 million mobile subscribers to the company’s books. In the fixed segment, Liberty reported a total of 54.143 million revenue generating units (RGUs), up from 53.876 million three months earlier and 53.147 million at end-September 2015. Customer relationships remained flat quarter-on-quarter, at 25.758 million, though they increased from 25.730 million in Q3 2015. LiLAC Group, meanwhile, had 5.433 million fixed segment RGUs (3.488 million in Q3 2015), while customers surged to 2.944 million, a 77.4% improvement on the 1.659 million in September 2015.