Liberty Global Results Presentation Deck
VMO2(¹): PRICE INCREASES IMPACT NET ADD
GROWTH IN Q2, BUT WILL DRIVE H2 REVENUE
MACRO
●
●
• Consumer confidence
remains low
GDP forecast low (+0.4%)(4)
●
小米
MARKET CONTEXT
VMO2 price adjustments in
line with peers (but benefit
varies by provider)
●
Inflation down to 7.3% in
June, but still relatively high
●
Price rise impact on revenue
expected to build in H2
Household spend
optimization continues to
impact video/voice
Early signs of front book
pricing improvement
BROADBAND NET ADDS
(000'S)
16
19
13
23
47
29
Q2'22 Q3'22 Q4'22 Q1'23 Q2'23
45%
FMC
POSTPAID MOBILE NET ADDS
(000'S)
71
(15)
(2)
(21)
Q2'22 Q3'22 Q4'22 Q1'23 Q2'23
Q2 GROWTH (%)
TOTAL
REVENUE (2)
FIXED
CONSUMER(3)
MOBILE
CONSUMER
B2B(3)
(FIXED & MOBILE)
OTHER(2)(3)
ADJ EBITDA (2)
REVENUE SPLIT (%)
FIXED
CONSUMER
MOBILE
CONSUMER
B2B
(FIXED & MOBILE)
OTHER
+6.2%
-5.0%
+4.6%
+2.4%
>100%
+4.4%
29%
44%
22%
5%
(3) VMO2 data presented with B2B including both fixed and mobile and Consumer Fixed excluding SOHO, consistent with LG definition and approach. Other revenue presented consistent with LG definition and approach.
(4) Full Year 2023 estimate.
(5) The 16m footprint represents homes passed by the VMO2 JV. The 243k homes represents nexfibre partner network homes to which the VMO2 JV has access and acts as an anchor tenant.
●
Q2 RESULTS
Broadband net adds
impacted by price adjustment
●
●
Virgin
●
EBITDA growth supported by
synergies and price rises,
partially offset by increased
energy costs
STRATEGIC UPDATE(5)
Largest 1Gig network today
(16.4m HHs)
●
Postpaid net adds broadly
stable, with a modest
reduction in churn despite the
price rise
Revenue growth supported
by price rise and network
build program
media
243k nexfibre HHs and 400k
VMO2 fiber upgrades YTD
1.5m total fiber HHs by YE
Exploring CTIL tower sale
Monitoring AltNets
Vodafone/Three merger
(1) Non-consolidated 50% owned JV. Reflects 100% of VMO2. Growth rates presented on a rebased IFRS basis. VMO2 IFRS results as reported by the VMO2 JV and US GAAP results may differ significantly and are not comparable. See the Appendix for additional information and reconciliations.
(2) Total revenue growth rate, other revenue growth rate and Adjusted EBITDA growth rate include all construction and service impacts from nexfibre build. Excluding nexfibre construction impacts, the rebased total revenue growth rate is 1.0% and the rebased Adjusted EBITDA growth rate is 2.8%.
IFRS results as reported by the VMO2 JV and US GAAP results may differ significantly and are not comparable. See the Appendix for additional information and reconciliations.
LO
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