Liberty Global reports fiscal results for 2013

Liberty Global has published its financial and operating results for Q4, reporting Q4 sales of $4.47 billion. The company saw sales advance 71% from 2012, spurred on by recent acquisitions such as Virgin Media and Ziggo.

The cable MSO also announced that the net loss attributable to Liberty Global shareholders narrowed to $121.2 million from $331.3 million.

“From an operating perspective, we delivered our third consecutive year of more than one million organic subscriber additions, with 1.3 million net new RGUs in 2013, including 413,000 in Q4, which was our strongest quarter of the year,” said Chief Executive Officer Mike Fries in a statement.

Fries added that Liberty Global is expecting to deliver adjusted free cash flow of about $2 billion this year.

Further, Liberty Global reported over 500,000 subscribers to its Horizon TV in the Netherlands, Switzerland, Germany and Ireland at the end of the 2013 financial year. Its TiVo customer base in the UK recently welcomed its 2 millionth customer.

However, Liberty Global also announced that it lost 3,000 digital cable subscribers in the UK in Q4, while experiencing some strong growth in Switzerland where subscribers increased by 30,000.

Mike Fries, Chief Executive Officer stated, “2013 was a watershed year for Liberty Global. With the acquisition of Virgin Media, we significantly enhanced our scale which now encompasses 47 million homes passed and over 24 million unique customers. In January, we completed the Chellomedia Sale for approximately $1 billion in net proceeds, and we also reached an agreement to purchase Ziggo the largest cable operator in the Netherlands. The Ziggo acquisition will create a nationwide footprint in one of our core markets and enable us to provide Dutch consumers with even better broadband, video and voices services. At the same time, we will be the leading challenger in mobile and B2B.”

DTG Staff  |  17.02.2014

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