Liberty books 9.5% revenue growth on the back of CWC addition

17 Feb 2017

UK-based Liberty Global has published its financial results for 2016, reporting total turnover of USD20.009 billion for the twelve-month period. Turnover grew 9.5% year-on-year due largely to the inclusion of Cable and Wireless Communications (CWC), which added USD1.445 billion to the group’s top line, though the operator also reported overall revenue growth across its European division and the non-CWC elements of its LiLAC (Latin America/Caribbean) units. In Europe, Liberty registered a 1.3% increase in revenue to USD17.226 billion, whilst its Chilean and Puerto Rican operations expanded 2.6% and 11.0% to USD859.5 million and USD420.8 million, respectively. Consolidated operating cash flow (OCF) for the group totalled USD9.248 billion for the year, compared to USD8.667 billion in 2015, but adjusted free cash flow (FCF) dropped to USD2.041 billion from USD2.519 billion in the preceding year.

In operational terms, Liberty counted a total of 44.781 million revenue generating units (RGUs) – down 16.4% y-o-y – and 21.835 million customer relationships (-15.4% y-o-y) across its European operations. Its LiLAC division, meanwhile, was bolstered by the inclusion of CWC and saw a 53.8% increase in RGUs to 5.378 million and a 73.7% jump in customer relationships to 2.890 million. The group also reported a total of 10.257 million mobile subscribers at the end of December 2016, including 6.564 million in Europe (down from 6.802 million in September 2016) and 3.693 million across its LiLAC division (including CWC), up from 3.619 million three months earlier.

United Kingdom, Liberty Global (incl. LGI)