Liberty Global claims USD7m profit for Q1 2019

7 May 2019

UK-based cable group Liberty Global has reported revenue of USD2.87 billion from its continuing operations for the first quarter of 2019, a decrease of 6.4% year-on-year, although the company notes that the reduction is softened to just 0.2% when rebased and excluding its Swiss arm, which is due to be sold to local rival Sunrise by the end of the year. Separately, the company also booked turnover of USD886 million from its discontinued operations, comprising divisions in Germany, Austria, Hungary, Romania and the Czech Republic. Operating cash flow from its continuing operations for the three months ended 31 March 2019 totalled USD1.18 billion, down from USD1.26 billion a year. Net earnings, meanwhile, improved to USD7.0 million from a loss of USD1.19 billion. Across its continuing operations – including Switzerland – the company’s networks passed 25.236 million homes, with the company counting 25.292 million RGUs and 10.821 million customer relationships. The operators also served a total of 5.983 million wireless subscribers at end-March 2019.

United Kingdom, Liberty Global (incl. LGI)