Liberty Global Ltd. · NASDAQ:LBTYA
Liberty Global — Q1 2017 Earnings Presentation
23 slides from Liberty Global's earnings presentation, May 8, 2017
Slide 1: LiLAC Group Investor Call Q1 2017
Slide 2: Safe Harbor
“Safe Harbor” Forward-Looking Statements litigation; the ability of our operating companies and affiliates to access cash of their respective subsidiaries; the impact of our operating companies' and This presentation contains forward-looking statements within the meaning of affiliates’ future financ
Slide 3: Executive Summary
Slide 4: LiLAC Group | Highlights
LiLAC Group | Highlights Network and product investments in 2017 to underpin future results (1) Volume Growth RGU & Customer Mixed OCF Results Growth in Q1 2017 NET ADDS INCREASING (including mobile) (in thousands) Strong Q1 2017 subscriber Double-digit rebased OCF BROADBAND 34 39 additions; fixed u
Slide 5: LiLAC Group | Strategic Outlook
LiLAC Group | Strategic Outlook Well diversified revenue streams; building blocks in place for future growth Geographical Breakdown Value Creation Initiatives AS A PERCENTAGE OF TOTAL REVENUE ACROSS LiLAC GROUP Puerto Rico Caribbean • Customer growth and product 31% 1 12% investments to drive top-li
Slide 6: VTR | Strong Start to the Year
VTR | Strong Start to the Year Continued focus on superior broadband speeds and product leadership Fixed Connectivity VTR Revenue by Product AS A PERCENTAGE OF REVENUE • Differentiated by broadband speeds and service quality • Deployed ~200,000 WiFi Connect boxes by the end of Q1 Video 38% Mobile Co
Slide 7: Puerto Rico | Positive RGU and OCF Momentum
Puerto Rico | Positive RGU and OCF Momentum Innovative products & focus on cost controls in challenging macro environment Fixed Connectivity Puerto Rico Revenue by Product AS A PERCENTAGE OF REVENUE • Innovative U-Pick bundles gaining traction • Increased prices in Q1 2017, limited impact on churn V
Slide 8: Cable & Wireless | Building for the Future
Cable & Wireless | Building for the Future Challenging Q1 comparison, investing in platform and products for future growth Fixed Connectivity CWC Revenue by Product AS A PERCENTAGE OF REVENUE • Mobilizing new go-to-market strategies across the region Managed Services • Early success with triple-play
Slide 9: Cable & Wireless | Building for the Future
Cable & Wireless | Building for the Future Q1 actions to drive improved performance in 2017 and beyond 1 Key New Hires • New appointments to top positions including CFO, CCO & General Counsel • Continued infusion of Liberty Global talent Improving CWC Top-Line 2 • Price increases taken in key Caribb
Slide 10: Financial Results
Slide 11: LiLAC Group | Q1 2017 Financial Results
LiLAC Group | Q1 2017 Financial Results Balance sheet in great shape with $1.5 billion of liquidity and 6.6% cost of debt (1) (1) (1) Revenue OCF P&E Additions USD MM USD MM USD MM $911 $911 % 1 % -1 -10 % -11% 24% 23 % 15 19% % $607 $390 $207 LEGACY CWC $354 $268 $135 $139 LEGACY CWC LEGACY CWC $30
Slide 12: CWC | Financial Developments
CWC | Financial Developments Difficult Q1 comparison leads to negative rebased OCF result CWC QUARTERLY OCF USD MM 268 post acquisition 223 226 215 199 211 201 213 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017 CWC Q1 FINANCIAL RESULTS USD MM Revenue -4% $576 OCF -19% $213 Liberty G
Slide 13: VTR & LCPR | Financial Developments
VTR & LCPR | Financial Developments Robust Q1 results in Chile & Puerto Rico; confirming LiLAC financial targets Revenue Growth Excluding CWC OCF Growth Excluding CWC Q1 2017 ON A REBASED BASIS Q1 2017 ON A REBASED BASIS 12% 10% 11% 7% 6% 3% Excl. Excl. CWC CWC LCPR VTR Total LCPR VTR Total (1) Conf
Slide 14: LiLAC Group | Conclusions
LiLAC Group | Conclusions Integration of CWC advancing, 2017 is a ‘Year of Investment’ Robust operational and financial performances at VTR and LCPR Continued focus on improving CWC commercial and operational results Integration and synergy realization underway Heavy investments this year will help
Slide 15: Appendix
Slide 16: Definitions and Additional Information
Definitions and Additional Information GAAP are accounting principles generally accepted in Subscription Revenue includes amounts received decrease in our Basic Video Subscribers equal to the the United States. from subscribers for ongoing services, excluding increase in our Enhanced Video Subscribe
Slide 17: Definitions and Additional Information
Definitions and Additional Information Homes Passed are homes, residential multiple (generally pre-acquisition financial statements), as addition, the rebased growth percentages are not dwelling units or commercial units that can be adjusted for the estimated effects of (a) any significant necessari
Slide 18: Operating Cash Flow Definition and Reconciliation
Operating Cash Flow Definition and Reconciliation As used herein, OCF has the same meaning as the losses on the disposition of long-lived assets, (b) third- our OCF measure is useful to investors because it is term "Adjusted OIBDA" that is referenced in our 10-Q. party costs directly associated with
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 because this measure can be used to gauge our 2017 adoption of ASU 2016-09, Compensation - provided by our operating activities, plus (i) cash ability to service debt and fund new investment Stock
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
Slide 21: CWC U.S. GAAP OCF to IASB-IFRS Adjusted EBITDA Reconciliation
CWC U.S. GAAP OCF to IASB-IFRS Adjusted EBITDA SEC Regulation G Reconciliation (Continued) The following table provides a reconciliation of CWC's Global’s U.S. GAAP accounting policies. On May 16, acquisition and post-acquisition OCF of CWC. The Q1 calendar year 2016 Adjusted EBITDA by quarter 2016,
Slide 22: CWC U.S. GAAP OCF to IASB-IFRS Adjusted EBITDA Reconciliation
CWC U.S. GAAP OCF to IASB-IFRS Adjusted EBITDA SEC Regulation G Reconciliation (Continued) (i) Represents the historical revenue and OCF of CWC, as adjusted for identified differences between CWC's pre-acquisition EU-IFRS policies and Liberty Global's U.S. GAAP policies and, with respect to OCF, as
Slide 23: CWC Revenue and P&E Additions
CWC Revenue and P&E Additions The following table provides the revenue and property pre-acquisition and post-acquisition revenue and and equipment additions of CWC by quarter and in property and equipment additions of CWC. The Q1 total for 2016. The revenue amounts for each quarter 2016 pre-acquisit
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