Liberty Global Ltd. · NASDAQ:LBTYA
Liberty Global — Q1 2017 Earnings Presentation
20 slides from Liberty Global's earnings presentation, May 8, 2017
Slide 1: Liberty Global Group Investor Call Q1 2017
Slide 2: Safe Harbor
“Safe Harbor” Forward-Looking Statements impact of our operating companies' and affiliates’ future financial performance, or market conditions generally, on the availability, terms and deployment of This presentation contains forward-looking statements within the meaning of capital; fluctuations in
Slide 3: Liberty Global Group Q1 2017 Investor Call
Liberty Global plc Investor Call | Liberty Global Group Q1 2017 | May 8, 2017
Slide 4: Key European Highlights
Key European Highlights Subscriber growth acceleration & efficiencies lay foundation for 2017 Product & Market Overview Subscriber Q1 2017 Growth Ramping Financial Results 75% 244k RGU adds, up 40% YoY, Rebased revenue growth of 2%, and 91k post-paid mobile impacted by challenging mobile additions i
Slide 5: Core Fixed-line Business
(1) Core Fixed-line Business Investing in superior products to enhance future growth prospects (2) Net Adds Accelerating Customer ARPU Growth Varied IN THOUSANDS Q1 FIXED CUSTOMER ARPU GROWTH YoY BROADBAND 117 145 154 €25 €54 CHF59 £50 €16 VOICE 77 127 105 (112) VIDEO (98) (15) 244 4% 4% 175 2% 82 1
Slide 6: Liberty GO Building Blocks
(1) Liberty GO Building Blocks B2B and Mobile each represent ~10% of Liberty Global Group’s revenue B2B – Solid Performance Mobile – U.K. & BE Softness Efficiencies on Track REBASED REVENUE GROWTH INCLUDING SOHO REBASED REVENUE GROWTH INDIRECT COSTS AS % OF REVENUE Q1 Rebased Q1 Rebased 11% Revenue
Slide 7: Virgin Media | Lightning Update
(1) Virgin Media | Lightning Update New management team in place to reboot Project Lightning Project Lightning Transformation New Premises Added Q1 2017 UPDATE IN THOUSANDS – U.K. AND IRELAND • Slowdown of new build near-term 102 86 81 86 • Key priorities of the new Lightning team: 61 • Ensure Build
Slide 8: Virgin Media | Volume Growth Accelerating
(1) Virgin Media | Volume Growth Accelerating Superior speeds & great entertainment drive volume offset by lower mobile revenue Robust Customer & RGU Additions Rebased Revenue Growth UK ARPU Fixed Customer IN THOUSANDS – U.K. AND IRELAND FOR Q1 2017 – U.K. AND IRELAND ILLUSTRATIVE WALK YoY CUSTOMER
Slide 9: Liberty Global Group Q1 2017 Investor Call
Liberty Global plc Investor Call | Liberty Global Group Q1 2017 | May 8, 2017
Slide 10: Q1 2017 Financial Results
(1) Q1 2017 Financial Results Strong balance sheet with $5.1 billion of liquidity and average debt tenor of ~7.5 years Revenue OCF P&E Additions USD BN USD BN USD MM $4.3 2% 4% 22% 25% Ziggo ($0.7) $3.5 $2.0 Ziggo $926 $884 ($0.4) $1.6 Ziggo ($140) Q1 2016 Q1 2017 Q1 2016 Q1 2017 Q1 2016 Q1 2017 Adj
Slide 11: Q1 2017 Regional Financial Results
(1) Q1 2017 Regional Financial Results Results led by Germany and Belgium offset by soft Virgin Media results % of Total Rebased Rebased Virgin Media OCF Result Drivers Group Revenue OCF Q1 2017 RESULT Revenue Growth Growth UK & 43% 2% 1% Soft top-line result due to fixed customer ARPU pressure an
Slide 12: Liberty Global Group Conclusions
Liberty Global Group Conclusions Investing in our products and network expansion to enhance organic growth Delivered solid subscriber acceleration in Q1 Robust B2B results and continue investing in mobile Leveraging our scale to keep indirect costs flat Expect rebased OCF growth to be weighted towar
Slide 13: Liberty Global Group Q1 2017 Investor Call
Liberty Global plc Investor Call | Liberty Global Group Q1 2017 | May 8, 2017
Slide 14: Definitions and Additional Information
Definitions and Additional Information GAAP are accounting principles generally accepted in Organic RGU additions exclude RGUs of acquired the United States. entities at the date of acquisition and other nonorganic adjustments, but include the impact of changes in Revenue Generating Unit "RGU" is se
Slide 15: Definitions and Additional Information
Definitions and Additional Information Total B2B includes subscription (SOHO) and non- top boxes that receives our video service in one that are not serviced over our networks. In subscription revenue. Non-subscription revenue premises is generally counted as just one subscriber. Switzerland, we off
Slide 16: Definitions and Additional Information
Definitions and Additional Information Homes Passed are homes, residential multiple OCF of multi-channel multi-point (microwave) periods, no assurance can be given that we have dwelling units or commercial units that can be distribution system subscribers in Ireland that have identified all adjustme
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: a) In connection with the December 31, 2016 closing of the VodafoneZiggo JV transaction, we entered
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 10-Q. cash flow from operating activities and other U.S. OCF is the primary measure used by our ch
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 1. For purposes of our consolidated statements of cash flows, expenses financed by an intermediary are treated as hypothetical operating cash outflows and hypothetical financing cash inflows when the expenses are incurred. When we pay th