Liberty Global organic video subscriber losses at 60,500 for 1Q 2019

Monday, May 6th, 2019 
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Liberty Global Reports First Quarter 2019 Results

  • Vodafone and Sunrise transactions remain on track to close during the summer of 2019 and Q4 2019, respectively
  • Recently closed the sale of our DTH business in CEE for €180 million

DENVER, Colorado — Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) plc today announced its Q1 2019 financial results. Our operations in Germany, Hungary, Romania and the Czech Republic, along with our DTH business and our former operation in Austria (collectively, the “Discontinued Operations”) have been accounted for as discontinued operations. UPC Switzerland will continue to be included in our continuing operations until the pending sale transaction is approved by Sunrise’s shareholders.

CEO Mike Fries stated, “A year ago we announced the sale of our operations in Germany, Hungary, Romania and the Czech Republic to Vodafone, which represents the largest divestiture in company history. Since deal announcement we have crossed a number of key milestones and the European Commission is currently in the final stages of its review. We are confident that we remain on track for a successful completion of this transaction during the summer. With respect to the sale of UPC Switzerland to Sunrise, the Swiss Competition Authority is now reviewing the case having received formal notification and we anticipate regulatory approval in the fourth quarter. And finally, we are pleased to announce that the sale of our Eastern European DTH business was completed in early May.”

“In Switzerland, we are seeing emerging green shoots from our multi-faceted turnaround plan. Our Horizon 4 set-top box rollout is in full-swing with 130,000 boxes installed to date. Customer reception has been very strong with NPS scores materially higher than our legacy product.”

Consolidated Operating Data – Video Subscribers – March 31, 2019

                                   Basic  Enhanced
                                   Video     Video         DTH      Total
                               ---------  ---------  ---------  ---------
Continuing operations:                                              
 U.K.                                  -  3,846,700          -  3,846,700
 Belgium                         191,400  1,725,400          -  1,916,800
 Switzerland(v)                  427,600    632,600          -  1,060,200
 Ireland                           2,900    269,200          -    272,100
 Poland                          177,900  1,053,800          -  1,231,700
 Slovakia                         27,300    144,000          -          -
                               ---------  ---------  ---------  ---------
Total continuing operations      827,100  7,671,700          -  8,498,800
 
Discontinued Operations:                                              
 Germany                       4,692,900  1,574,700          -  6,267,600
 Romania                         205,900    708,400          -    914,300
 Hungary                          62,900    628,300          -    691,200
 Czech Republic                  172,500    366,500          -    539,000
 DTH                                   -        -      756,800    756,800
                               ---------  ---------  ---------  ---------
Total Discontinued Operations  5,134,200  3,277,900    756,800  9,168,900

Subscriber Variance Table – Video – March 31, 2019 vs. December 31, 2018

                                   Basic  Enhanced
                                   Video     Video         DTH      Total
                               ---------  ---------  ---------  ---------
Continuing operations:                                              
 U.K.                                  -   (25,300)          -   (25,300)
 Belgium                         (9,800)   (13,300)          -   (23,100)
 Switzerland                     (9,600)   (13,200)          -   (22,800)
 Ireland                         (1,600)      2,600          -      1,000
 Poland                          (2,600)     11,100          -      8,500
 Slovakia                          (400)      1,700          -      1,300 
                               ---------  ---------  ---------  ---------
Total continuing operations     (24,000)   (36,400)          -   (60,400)
 
Discontinued Operations:                                              
 Germany                          17,400   (32,800)          -   (15,400)
 Romania                        (16,100)      9,800          -    (6,300)
 Hungary                         (5,400)      4,700          -      (700)
 Czech Republic                    2,200    (2,700)          -      (500)
 DTH                                   -          -   (24,000)   (24,000)
                               ---------  ---------  ---------  ---------
Total Discontinued Operations    (1,900)   (21,000)   (24,000)   (46,900)

Subscriber Variance Table – Video – March 31, 2019 vs. December 31, 2018

                                   Basic  Enhanced
                                   Video     Video      Total
                               ---------  ---------  ---------
Organic Change Summary:
 U.K.                                  -   (25,300)   (25,300)
 Belgium                         (9,800)   (13,300)   (23,100)
 Other Europe                   (14,100)      2,000   (12,100)
                               ---------  ---------  ---------
Total Organic Change            (23,900)   (36,600)   (60,500)
 
Q1 2019 Adjustments:
 Q1 2019 Adjustment - U.K.            -           -          -
 Q1 2019 Adjustment - Poland      (100)         200        100
                               ---------  ---------  ---------
Net Adds (Reductions)             (100)         200        100

More: Results Release

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