Slide 1: Q2 2016 Investor Call
Q2 2016 Investor Call August 5, 2016
Slide 2: Safe Harbor
“Safe Harbor” Forward-Looking Statements efficiencies from businesses we acquire; the availability of attractive programming for our digital video services and the costs associated with such This contains forward-looking statements within the meaning of the Private programming; our ability to achiev
Slide 3: Liberty Global plc | Q2 2016 Investor Call | August 5, 2016
Liberty Global plc | Q2 2016 Investor Call | August 5, 2016
Slide 4: Key Highlights
(1) Key Highlights Subscriber growth accelerating 277,000 in Q2; Double YoY and up 80% vs Q1 New build projects on track 1.5 million homes by YE; U.K. leading the charge (2) B2B revenue picking up pace Up 11% YoY in the first half; SoHo up ~40% Mobile strategy taking shape New bundles in BE; EU clea
Slide 5: Net Adds Ramping in 2016
(1) Net Adds Ramping in 2016 RGU additions in H1 doubled YoY driven by Virgin Media 433 277 156 +105% +97% +119% 211 265 140 186 71 TELEPHONY 149 116 83 103 369 290 BROADBAND 154 178 191 136 VIDEO (98) (63) (166) (138) (201) (264) Q1 2015 Q1 2016 Q2 2015 Q2 2016 H1 2015 H1 2016 (1) Please see Append
Slide 6: United Kingdom & German Operations
(1) United Kingdom & German Operations Strong organic growth prospects in both markets Virgin Media (UK) Unitymedia Solid execution yields results Growth momentum continues Superior bundles, new build & low churn drove Successful Spring campaign in Q2 • Record Q2 with 31,000 customer adds • Added >1
Slide 7: Dutch and Belgian Operations
(1) Dutch and Belgian Operations Creation of leading converged players with substantial synergy opportunities Ziggo Telenet Investing for return to growth Quad-play in focus Customer churn at lowest level since Q2’14 Traction across fixed and mobile businesses • Lower video churn, helped by Ziggo Sp
Slide 8: Liberty Global Group Guidance
(1) Liberty Global Group Guidance Fully committed to deliver 7-9% rebased OCF growth over 2015-18 2016 PREVIOUS NEW CHANGE IN Rebased GUIDANCE GUIDANCE COMPOSITION OCF Growth 5-7% 4-5% Now includes BASE 2016 P&E Additions as % of revenue 25-27% 26-28% Now includes BASE and excludes NL 2016 Now inclu
Slide 9: LiLAC Group | Leading Regional Player
(1) LiLAC Group | Leading Regional Player Platform leveraging the power of sub-sea, fixed-line and mobile networks What Are We Doing? Annualized revenue of $3.6 billion by country(1) • Delivered 46,000 LiLAC RGU adds in Q2 • Rebalancing capital investment to drive both fixed & mobile network superio
Slide 10: Liberty Global plc | Q2 2016 Investor Call | August 5, 2016
Liberty Global plc | Q2 2016 Investor Call | August 5, 2016
Slide 11: Liberty Global Group | H1 2016 Financial Results
(1,2) Liberty Global Group | H1 2016 Financial Results Balanced revenue result as Western Europe & CEE deliver 3% growth each 3% 2% 22% 23% $894 $8,484 $8,755 $4,047 $4,068 $2,024 $1,840 $412 H1 2015 H1 2016 H1 2015 H1 2016 H1 2015 H1 2016 H1 2015 H1 2016 PROPERTY & FREE CASH REVENUE OCF EQUIPMENT A
Slide 12: Q2 2016 Rebased Results | Western Europe
(1,2) Q2 2016 Rebased Results | Western Europe Rebased growth supported by over 560,000 broadband additions LTM UK & GERMANY BELGIUM NETHERLANDS AUSTRIA & IRELAND SWITZERLAND 7% 7% 4% 3% 3.5% 2% 1% 1% REVENUE OCF REVENUE OCF REVENUE OCF REVENUE OCF REVENUE OCF -3% -4% (1) Growth rate figures are reb
Slide 13: Liberty Global Group | Balance Sheet
(1) Liberty Global Group | Balance Sheet Fully hedged debt position with extended maturities DEBT BREAKDOWN BY FX RISK MANAGEMENT Interest Fixed (2) CURRENCY TECHNIQUES 99% CHF 1% • Active capital management drives Blended Cost of continued balance sheet strength Debt GBP 4.7% NATURAL HEDGE 19% • FX
Slide 14: Liberty Global Group | Leverage & Buybacks
(1) Liberty Global Group | Leverage & Buybacks Aggressive share repurchases in June; leverage ratios declining ADJUSTED LEVERAGE RATIOS $0.3bn $0.7bn $3.0bn Q1 2016 Q2 2016 BY YEAR END 2017 5.4x 5.3x 5.0x 4.9x SHARE REPURCHASES Gross Net Gross Net CASH Q1 2016 Q2 2016 $0.8bn LIQUIDITY BORROWING $4.6
Slide 15: LiLAC Group | H1 2016 Financial Results
(1,2) LiLAC Group | H1 2016 Financial Results YTD financial results include CWC for six-week stub period 3% 6% 21% 23% $907 $599 $353 $236 $205 $126 $28 H1 2015 H1 2016 H1 2015 H1 2016 H1 2015 H1 2016 H1 2015 H1 2016 -$15 PROPERTY & FREE REVENUE OCF EQUIPMENT ADD CASH FLOW USD MM USD MM USD MM USD M
Slide 16: LiLAC Group | Q2 2016 Financial Results
(1,2) LiLAC Group | Q2 2016 Financial Results Rebased OCF growth led by 5% result in Puerto Rico and 4% at CWC -1% 4.5% 1% 4% 2% 5% 4.5x $286 4.1x $211 $107 $101 $82 $50 CWC Chile Puerto Rico CWC Chile Puerto Rico Q2 16 Gross Q2 16 Net REVENUE OCF GROWTH GROWTH ADJUSTED LEVERAGE BREAKDOWN BREAKDOWN
Slide 17: Conclusions
Conclusions Guidance targets now include BASE and Cable & Wireless New build program beginning to deliver material results in U.K. Rebased OCF growth expected to ramp significantly in H2 2016 C&W integration in full-swing, synergy update expected at Q3 Aggressive buybacks in Q2 and we will remain op
Slide 18: Liberty Global plc | Q2 2016 Investor Call | August 5, 2016
Liberty Global plc | Q2 2016 Investor Call | August 5, 2016
Slide 19: Definitions and Additional Information
Definitions and Additional Information GAAP are accounting principles generally accepted in April 2016. Totals may not sum due to rounding. maintaining tight cost controls. The Liberty GO the United States. program seeks to capitalize on revenue opportunities Average Revenue Per Unit (“ARPU”) refers
Slide 20: Definitions and Additional Information
Definitions and Additional Information Total B2B includes subscription (SOHO) and non- customers that are counted on a per connection basis, Switzerland, we offer a 2 Mbps internet service to our subscription revenue. Non-subscription revenue representing the least expensive regulated tier of Basic
Slide 21: Definitions and Additional Information
Definitions and Additional Information Next-Generation Video Base in this presentation agreement that was terminated shortly after the accounting principles, (b) any significant effects of consists of Horizon TV, TiVo (in the U.K.), Digital TV Ziggo acquisition from our rebased amounts for the acqui
Slide 22: Operating Cash Flow Definition and Reconciliation
Operating Cash Flow Definition and Reconciliation As used herein, OCF has the same meaning as the directly associated with successful and other companies in the same or similar industries, term "Adjusted OIBDA" that is referenced in our 10- unsuccessful acquisitions and dispositions, although our me
Slide 23: Free Cash Flow and Free Cash Flow Definitions and Reconciliations
Free Cash Flow and Free Cash Flow Definitions and Reconciliations(*) We define free cash flow as net cash provided by our operating activities, plus (i) excess tax benefits related to the exercise of share-based incentive awards, (ii) cash payments for third-party costs directly associated with succ
Slide 24: Definitions and Additional Information
Definitions and Additional Information Free Cash Flow 1. Excess tax benefits from share-based compensation represent the excess of tax deductions over the related financial reporting share-based compensation expense. The hypothetical cash flows associated with these excess tax benefits are reported
Slide 25: Definitions and Additional Information
Definitions and Additional Information LiLAC Transaction On July 1, 2015, Liberty Global completed the "LiLAC Transaction" pursuant to which each holder of Liberty Global’s then-outstanding ordinary shares remained a holder of the same amount and class of new Liberty Global ordinary shares and recei