Liberty Q4 turnover dips to USD2.98bn

17 Feb 2020

UK-based cable group Liberty Global has booked turnover of USD2.98 billion for the three months ended 31 December 2019, down by 0.5% year-on-year on a rebased basis. Operating cash flow (OCF) for the period dipped by 4.1% y-o-y (rebased) to USD1.27 billion, with Liberty attributing the decline in part to a USD12.6 million increase in tax payments. Adjusted free cash flow (FCF) from continuing operations, meanwhile, dipped to USD774.7 million from USD1.08 billion. In operational terms, the group recorded net RGU loss of 25,500 during the period, counting 25.05 million fixed RGUs at the end of December 2019, alongside 6.30 million mobile subscriptions.

Commenting on the results, CEO Mike Fries was quoted as saying: ‘2019 was a transformational year on many fronts. In July, we sold our operations in Germany, Hungary, Romania and the Czech Republic to Vodafone for over USD21 billion. We are now geographically concentrated in five attractive Western European markets, while enjoying substantial financial firepower with over USD11 billion of total liquidity. Technologically, we continued to push the boundaries of our fiber-rich HFC networks by accelerating our gigabit broadband rollouts to more European homes and businesses. As a result, millions of our customers currently have access to 1 gigabit download speeds, far surpassing what our competitors are able to offer across the vast majority of our footprint.’

United Kingdom, Liberty Global (incl. LGI)