Liberty books USD652m net loss

8 Aug 2017

UK-based cable group Liberty Global has booked consolidated revenues of USD3.94 billion for the three months ended 30 June 2017, a decrease of 14.0% year-on-year, as growth at its Latin American LiLAC division failed to offset the impact of the deconsolidation of its Netherlands-based unit and continuing declines in turnover from its British (-8.8%), Belgian (-3.0%) and Swiss/Austrian (-2.7%) subsidiaries. Consolidated Operating Cash Flow for the group dipped slightly y-o-y to USD2.10 billion, whilst net earnings swung to losses of USD652 million from a profit of USD109 million in Q2 2016.

In operational terms, the group counted a total of 45.39 million RGUs and 21.96 million customers across its European subsidiaries – increases of 0.8% and 0.4% quarter-on-quarter respectively (excluding Liberty’s former Netherlands unit) – whilst LiLAC accounted for 5.23 million RGUs (+3.5%) and 2.75 million subscribers.

United Kingdom, Liberty Global (incl. LGI)