Liberty Global Ltd. · NASDAQ:LBTYA
Liberty Global — Q3 2017 Earnings Presentation
20 slides from Liberty Global's earnings presentation, Nov 2, 2017
Slide 1: Liberty Global Group Investor Call
Liberty Global Group Investor Call Q3 2017 | November 2, 2017
Slide 2: Safe Harbor
“Safe Harbor” Forward-Looking Statements + Disclaimer forecasted financial and operating targets; the outcome of any pending or threatened litigation; the ability of our operating companies and affiliates to This presentation contains forward-looking statements within the meaning of access cash of t
Slide 3: Executive Summary
EXECUTIVE SUMMARY
Slide 4: Key Messages
Key Messages 1 REVENUE 2 4% REBASED 3 OVER 200,000 Q3 4 OPERATING 5 FULL-YEAR GROWTH OCF GROWTH RGU ADDITIONS; MOMENTUM 2017 IMPROVED IN Q3; YTD VIDEO ATTRITION IMPROVING IN GUIDANCE TO 3% IN Q3 RESULT AT 5% REMAINS LOW THE U.K. CONFIRMED SUPPORTED BY EXECUTING ON SCALE FOCUS ON ENHANCING EARLY PRIC
Slide 5: Liberty GO Scorecard
Liberty GO Scorecard Continued delivery on cost-efficiency initiatives & strong B2B execution TIGHT COST CONTROLS INVESTING IN GROWTH STRONG B2B RESULTS MARGIN IMPROVING YOY (ABSOLUTE FIGURES IN $ BN) YTD 2017 REBASED INDIRECT OPEX GROWTH RATES YOY TOTAL B2B REBASED REVENUE GROWTH (1) OPEX as % of R
Slide 6: Liberty GO Scorecard
Liberty GO Scorecard Footprint expansion building momentum I Mobile revenue results improving YTD 2017 NEW BUILD CONSUMER MOBILE PREMISES BUILT (IN 000’S) REBASED REVENUE GROWTH Q3 Rebased Revenue CEE Growth 311 1% (by Segment) Q1 Q2 TOTAL 2017 2017 SUBSCRIPTION U.K./IRELAND 813K Q3 (4%) 377 2017 IN
Slide 7: Virgin Media | Operating Update
Virgin Media | Operating Update Delivered best quarterly rebased OCF result of the year UPDATE ON PRICE INCREASE NEW PREMISES | U.K. & IRELAND SINGLE ANNUAL PRICE RISE AND SEGMENTED APPROACH (QUARTERLY ADDITIONS X 1,000) • Tailored more-for-more approach: Lower impact on 900 147 relationship NPS ver
Slide 8: Liberty Global plc Investor Call
Liberty Global plc Investor Call | Liberty Global Group Q3 2017 | November 2, 2017
Slide 9: Q3 2017 Financial Results
Q3 2017 Financial Results Best quarterly revenue growth of 2017 | Substantial liquidity of ~$5bn REVENUE OCF P&E ADDITIONS USD BN USD BN USD BN 3% REBASED GROWTH 4% REBASED GROWTH 26% 33% AS % OF REVENUE $3.6 $3.9 $1.7 $1.8 $1.3 $0.9 Excl. Excl. Excl. Ziggo Ziggo Ziggo Q3 2016 Q3 2017 Q3 2016 Q3 201
Slide 10: Q3 2017 Results by Segment
Q3 2017 Results by Segment (1,2) Europe delivered 4% rebased OCF growth, including 7% in CEE U.K. & GERMANY BELGIUM SWITZERLAND CEE IRELAND & AUSTRIA 7% 6% 5% 5% 4% 3.5% 2.5% 1.5% 1% OCF REVENUE OCF REVENUE OCF REVENUE OCF REVENUE REVENUE OCF (3%) (1) Please see Appendix for definitions and addition
Slide 11: Executing on Convergence & Scale Benefits
Executing on Convergence & Scale Benefits Robust FMC synergies from M&A; Procurement initiatives paying off TELENET + BASE COMBINATION DELIVERING PROCUREMENT SUCCESS SIM MIGRATION FROM LEGACY MVNO AHEAD OF PLAN ACHIEVING ~5% PRICE IMPROVEMENT YEAR OVER YEAR MVNO TO BASE MIGRATION • €220 million of r
Slide 12: Liberty Global Group Conclusions
Liberty Global Group Conclusions Product innovation, network expansion and cost efficiencies working REVENUE GROWTH IMPROVEMENT ACROSS MOST WESTERN EUROPEAN MARKETS U.K. PRICE INCREASE SHOWS ENCOURAGING INITIAL RESULTS; LIGHTNING EXECUTION IMPROVING STRONG COST CONTROLS KEEPING INDIRECT EXPENSE BASE
Slide 13: Liberty Global plc Investor Call
Liberty Global plc Investor Call | Liberty Global Group Q3 2017 | November 2, 2017
Slide 14: Definitions and Additional Information
Definitions and Additional Information U.S. GAAP means accounting principles generally Organic RGU additions exclude RGUs of acquired accepted in the United States. entities at the date of acquisition and other nonorganic adjustments, but include the impact of changes in Revenue Generating Unit "RGU
Slide 15: Definitions and Additional Information
Definitions and Additional Information Basic Video Subscriber is a home, residential Subscribers to enhanced video services provided by Mobile Subscriber represents the number of active multiple dwelling unit or commercial unit that receives our operations in Switzerland over partner networks subscr
Slide 16: Definitions and Additional Information
Definitions and Additional Information Homes Passed are homes, residential multiple end of December 31, 2016, (iii) include revenue for differences between Generally Accepted Accounting dwelling units or commercial units that can be the framework services agreement with the Principles in the United
Slide 17: Definitions and Additional Information
Definitions and Additional Information Information on Rebased Growth: The following table provides adjustments made to the 2016 amounts to derive our rebased growth rates for the Liberty Global Group: Liberty Global plc Investor Call | Liberty Global Group Q3 2017 | November 2, 2017 17
Slide 18: Operating Cash Flow Definition and Reconciliation
Operating Cash Flow Definition and Reconciliation As used herein, OCF has the same meaning as the substitute for, operating income, net earnings or loss, term "Adjusted OIBDA" that is referenced in our Form cash flow from operating activities and other U.S. 10-Q. OCF is the primary measure used by o
Slide 19: Adjusted Free Cash Flow Definition and Reconciliations
Adjusted Free Cash Flow Definition and Reconciliations(*) We define Adjusted Free Cash Flow as net cash remove the operating cash outflows and financing provided by our operating activities, plus (i) cash cash inflows associated with excess tax benefits from payments for third-party costs directly a
Slide 20: Definitions and Additional Information
Definitions and Additional Information Adjusted Free Cash Flow For purposes of our Adjusted Free Cash Flow definition, we add back the hypothetical operating cash outflow when these financed expenses are incurred and deduct the financing cash outflows when we pay the financing intermediary. Property