UK-based cable group Liberty Global has reported consolidated revenue of USD3.11 billion for the three months to end-June 2021, an increase of 14.1% year-on-year, or 3.4% on a rebased basis. Alongside the benefit from its acquisition of Swiss full-service provider Sunrise in Q4 2020, the group attributed the improvement in turnover to ‘COVID recovery’ in sports and advertising and underlying organic growth through convergence. Adjusted EBITDA for the period grew to USD1.25 billion from USD1.19 billion in Q2 2020, whilst Adjusted Free Cash Flow grew by 37.0% y-o-y to USD624.2 million. On the back of the completion of the merger of its Virgin Media division with O2 UK – creating a new 50/50 joint venture Virgin Media O2 (VMED O2) – and its positive impact on the group’s liquidity, Liberty committed to repurchase a minimum of 10% of its equity market capitalisation per year over the next three years.
In terms of its user base, Liberty Global counted a total of 12.72 million fixed RGUs across 5.68 million customer relationships at end-June 2021, whilst its non-consolidated joint ventures VodafoneZiggo and VMED O2 claimed a further 9.31 million and 13.28 million RGUs respectively. In the mobile segment, Liberty’s consolidated units claimed a total of 5.71 million users whilst its JV units recorded wireless customer bases of 5.27 million (VodafoneZiggo) and 31.36 million (VMED O2).