Liberty Global reports Q4 2021 resultsThursday, February 17th, 2022
DENVER, Colorado — Liberty Global plc today announced its Q4 2021 financial results.
Q4 Operating Company Highlights
Sunrise UPC (Consolidated)
Strategic integration plan towards becoming a national converged champion remains on track with synergy realization ahead of plan. Despite the continuation of an aggressive competitive environment, record-high sales combined with stable low churn resulted in 8,000 broadband net additions in Q4, closing the year with great momentum. Sales uptake in mobile postpaid with 49,000 net adds across all brands. FMC share grew 3% in 2021 and has now reached 56%. Budget brand Yallo converged into a Full Telco operator. Sunrise UPC will carry on utilizing a combination of its own network, Swisscom’s network and some new build in selected areas to always provide the best products in the market.
Commercial momentum continued in Q4 2021, resulting in the ninth quarter of broadband growth with 6,000 net adds and 13,000 postpaid mobile adds driven by a strong uptake of net new FMC customers on Telenet’s “ONE(Up)” bundles. Telenet continues to engage with Fluvius to reach a formal agreement to create “the data network of the future” through their joint fixed network infrastructure in Flanders. Telenet also launched an external auction for the potential sale of their mobile tower portfolio to enhance shareholder value.
VMO2 JV (Non-consolidated Joint Venture)
Strong demand for premium connectivity and broadband speed continues, resulting in 129,000 mobile postpaid net adds and 60,000 broadband net adds in Q4, leading to the seventh consecutive quarter of growth in both Project Lightning areas and VMO2’s existing BAU. Implemented a 6.5% average price increase in fixed starting in March. VOLT offer shows strong growth boosting FMC penetration. 15.6 million premises are now covered by 1Gbps speeds providing an average speed of 214Mbps, 4x the national average. Liberty Global and Telefonica have initiated discussions with potential financial partners to participate in a fiber network build joint venture of up to 7 million premises in new greenfield areas, to reach 80% of the country by the end of 2027. The VMO2 JV will commit as an anchor tenant for the project.
VodafoneZiggo (Non-consolidated Joint Venture)
Mobile postpaid momentum continued, adding 45,000 subscribers in Q4. Added 1,600 converged households, driving improvements in churn. 1.2 million SmartWiFi Plume pods have been deployed across the customer base to optimize connectivity experience. Over 70% of connected households are now upgraded to 1Gbps internet speeds, on track to reach the full base in 2022.
Operating Data — Video subscribers
December 31, 2021 vs. December 31, September 30, 2021 2021 ------------ ------------- Continuing operations: Belgium 1,762,000 (12,000) Switzerland* 1,239,800 900 Ireland 302,300 (8,100) Slovakia 169,200 (200) Total continuing operations 3,473,300 (19,400) Discontinued operations: Poland 1,397,200 24,300 VodafoneZiggo JV 3,729,800 (24,900) VMO2 JV 13,390,200
* Pursuant to service agreements, Switzerland offers broadband internet, video and telephony services over networks owned by third-party operators (“partner networks”). A partner network RGU is only recognized if there is a direct billing relationship with the customer. At December 31, 2021, Switzerland’s partner networks accounted for 113,100 Fixed-Line Customer Relationships, 291,800 RGUs, which include 106,800 Internet Subscribers, 102,500 Video Subscribers and 82,500 Telephony Subscribers. Subscribers to our 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 464,900 homes passed by Switzerland’s partner networks at December 31, 2021. 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.
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