Liberty Global reports Q3 results

7 Nov 2019

UK-based cable group Liberty Global has reported total revenue from continuing operations of USD2.84 billion for the three months ended 30 September, a year-on-year fall of 3.0% or 0.6% on a rebased basis. Operating cash flow (OCF) dropped by 5.7% y-o-y (4.1% rebased) to USD1.21 billion. Net earnings attributable to Liberty Global shareholders for the period, however, was USD12.85 billion – up from USD974 million in Q3 2018 – due to a USD12.2 billion gain from the sale of its operations in Germany, Hungary, Romania and Czechia, which was realised during Q3 2019. Across its continuing operations in the UK, Belgium, Switzerland, Ireland, Poland and Slovakia, the group counted a total of 25.175 million RGUs – down by 76,300 from 30 June 2019 – across 10.766 million customer relationships (down by 18,100 quarter-on-quarter). Of that total, the company claimed 9.330 million internet subscriptions, plus 7.474 million telephony and 8.373 million video accounts. Separately, Liberty claimed 6.208 million mobile subscriptions – an increase of 132,400 compared to the previous quarter – primarily in the UK (3.137 million) and Belgium (2.779 million).

United Kingdom, Liberty Global (incl. LGI)