Liberty Global reports Q4 2020 results

Tuesday, February 16th, 2021
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DENVER, Colorado — Liberty Global plc (NASDAQ: LBTYA, LBTYB and LBTYK) today announced Full Year financial results.

CEO Mike Fries stated, “… we are making very positive progress with the U.K. regulator on the joint venture between Virgin Media and Telefonica’s O2, and continue to anticipate a mid-21 closing.”

Video Subscribers

Operating Data – December 31, 2020

                      Basic Video  Enhanced Video      Total
                      Subscribers     Subscribers      Video
                      -----------  --------------  ---------
U.K.                            -       3,498,000  3,498,000
Belgium                   123,700       1,688,000  1,811,700
Switzerland(1)            342,000         893,500  1,235,500
Ireland                         -         309,500    309,500
Poland                    255,000       1,079,800  1,334,800
Slovakia                   31,200         139,700    170,900
                      -----------  --------------  ---------
Total                     751,900       7,608,500  8,360,400

VodafoneZiggo JV(2)       504,900       3,326,400  3,831,300

Subscriber Variance Table – December 31, 2020 vs. September 30, 2020

                      Basic Video  Enhanced Video      Total
                      Subscribers     Subscribers      Video
                      -----------  --------------  ---------
Organic Change Summary:
 U.K                            -        (27,500)   (27,500)
 Belgium                  (7,700)         (3,100)   (10,800)
 Switzerland(1)          (14,200)           8,100    (6,100)
 Ireland                        -           5,600      5,600
 Poland                    20,600           8,400     29,000
 Slovakia                     700           (400)        300
                      -----------  --------------  ---------
Total organic change        (600)         (8,900)    (9,500)

Q4 2020 Liberty Global Adjustments:
 Switzerland             (19,500)         296,600    277,100

VodafoneZiggo JV(2)         4,600        (20,900)   (16,300)

Subscriber Variance Table – December 31, 2020 vs. December 31, 2019

                      Basic Video  Enhanced Video      Total
                      Subscribers     Subscribers      Video
                      -----------  --------------  ---------
Organic Change Summary:
 U.K.                           -       (189,400)  (189,400)
 Belgium                 (41,000)         (4,700)   (45,700)
 Switzerland(1)          (46,700)           3,700   (43,000)
 Ireland                        -          29,100     29,100
 Poland                    58,400          12,800     71,200
 Slovakia                   2,400         (2,800)      (400)
                      -----------  --------------  ---------
Total organic change     (26,900)       (151,300)  (178,200)

2020 Liberty Global Adjustments:
 Belgium                        -         (9,200)    (9,200)
 Switzerland             (30,000)         296,600    266,600
                      -----------  --------------  ---------
Total                    (30,000)         287,400    257,400

VodafoneZiggo JV(2)        13,600        (52,400)   (38,800)

1. Pursuant to service agreements, Switzerland offers broadband internet, video and telephony services over networks owned by third-party cable operators (“partner networks”). A partner network RGU is only recognized if there is a direct billing relationship with the customer. At December 31, 2020, Switzerland’s partner networks accounted for 118,100 Fixed-Line Customer Relationships, 300,800 RGUs, which include 110,000 Internet Subscribers, 105,100 Video Subscribers and 85,700 Telephony Subscribers. Subscribers to our enhanced video services provided over partner networks largely receive basic video services from the partner networks as opposed to our operations. Due to the fact that we do not own these partner networks, we do not include the 657,300 homes passed by Switzerland’s partner networks at December 31, 2020. In addition, with the completion of the acquisition of Sunrise, we now service homes through Sunrise’s existing agreements with Swisscom, Swiss Fibre Net and local utilities, which are not included in Switzerland’s homes passed count. Including these arrangements, our operations in Switzerland have the ability to offer fixed services to a national footprint.

2. Amounts related to the VodafoneZiggo JV’s fixed-line and mobile products include small business and multiple dwelling unit subscribers. In addition, the mobile amount shown for the VodafoneZiggo JV’s includes medium and large enterprise subscribers. Prepaid mobile customers are excluded from the VodafoneZiggo JV’s mobile telephony subscriber counts after a period of inactivity of nine months.

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