Liberty Global boosts Q1 net income by 41.5% y-o-y

7 May 2021

Multinational cableco Liberty Global posted USD3.615 billion in Q1 2021 revenues, up 25.7% year-on-year on a reported basis, or up 0.2% on a rebased basis (rebased for acquisitions, dispositions, FX and other items that impact the comparability of y-o-y results). Adjusted EBITDA increased 18.9% on a reported basis and decreased 1.7% on a rebased basis to USD1.367 billion in January-March 2021, while Q1 net earnings (net income) jumped 41.5% y-o-y to USD1.440 billion.

Liberty reported organic net customer relationship additions of 38,000 across its markets in 1Q21, compared to a net decrease of 18,900 in 1Q20, with positive growth achieved in the UK, Ireland, Switzerland, Poland and Slovakia, slightly offset by a customer decrease in Belgium. Fixed-mobile convergence penetration of Liberty’s customer base rose by six percentage points y-o-y to 29% at 31 March 2021, while the group deployed networks passing an additional 113,000 premises during Q1, including 80,000 in the UK and Ireland.

At end-March 2021 Liberty reported a total of 26.07 million fixed network RGUs (down slightly from 26.09 million at end-2020) including 10.15 million internet subscriptions (end-2020: 10.07 million), alongside 8.62 million mobile subscribers, up from 8.54 million three months earlier.

United Kingdom, Liberty Global (incl. LGI)