Business
Liberty Global Reports Q2 2022 Results
Stable to growing revenue across our FMC markets and continued Adjusted EBITDA growth at VMO21 Price adjustments, merger synergies and continued innovation
About this update from Liberty Global Ltd.
[{"type":"text","content":"\nStable to growing revenue across our FMC markets and continued Adjusted EBITDA growth at VMO21\n\nPrice adjustments, merger synergies and continued innovation expected to support robust operational trends\n\nExecuting on long-term fixed network strategies with Telenet announcing NetCo partnership in Belgium, and fiber plans progressing in the U.K. and Ireland\n\nStock buyback accelerating with announcement to increase 2022 program by $400 million to ~$1.7 billion\n\nConfirming all full-year 2022 guidance targets\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Global plc today announced its Q2 2022 financial results.\n\nCEO Mike Fries stated, “Despite an increasingly difficult macroeconomic environment developing throughout the second quarter, demand for connectivity remains high and we are well positioned to execute on our strategic and financial goals. In each of our core operating markets, we remain focused on product innovation and offering the best value for our customers, especially as they manage through the effects of increased living costs. At the same time, we are proactively addressing the impacts on our costs while supporting our network investments across fixed and mobile.\n\nIn Q2, we delivered aggregate2 broadband and postpaid mobile net add growth underpinned mostly by positive postpaid mobile trends and a return to broadband growth in the U.K. Financially, with price adjustments beginning to support top-line trends, we reported stable revenue across our FMC markets. Synergies supported Adjusted EBITDA trends in Switzerland and the U.K., where the continued growth of VMO21 was the highlight of the quarter. Looking ahead to H2, the realization of synergies is expected to continue driving cash flow growth in the U.K., while recent price adjustments in the Netherlands and Belgium should support improved financial results in both markets.\n\nOur continued focus on innovation is driving unique FMC product and bundling strategies that not only differentiate us from the competition, but also generate higher NPS, lower churn, and support ARPUs. In Switzerland, our new Sunrise UP converged bundles offer market-leading benefits such as multiple mobile sims with best-in-class speeds, underpinned by gigabit coverage for over 90% of Swiss households and the highest customer service and loyalty program in the country. In the...