Liberty Global Results Presentation Deck
Q2 HIGHLIGHTS: EXECUTING ON GROWTH AND VALUE
CREATION INITIATIVES
VALUE CREATION STRATEGIES
Maximize inherent equity value of FMC Champions; seek to crystallize value for the benefit of shareholders
2 Invest in strategic adjacencies to create next wave of value creation
3 Manage a dynamic capital structure focused on cash flow growth, opportunistic divestitures and levered-equity buybacks
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SOLID FMC OPERATING RESULTS
Improved financial performance sequentially from Q1
Price rises expected to positively impact H2 revenue
Strong mobile net adds despite price announcements
Fiber and 5G upgrades on track
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LIBERTY VENTURES BECOMING MORE FOCUSED
Portfolio FMV of $3.2 billion(1) at June 30
Negatively impacted by listed investments
All3 Media "strategic process" initiated
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3 CAPITAL ALLOCATION PLANS RAMPING UP
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RECENT DEVELOPMENTS SUPPORT STRATEGIES
Acquired 93.2% of Telenet shares; offer to be reopened
Exploring monetization of tower assets in UK and NL
Secured shareholder approval for Bermuda redomiciliation
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Strong balance sheet with long-term, fixed rate debt
-$3.9 billion (2) of consolidated cash
On track for Distributable Cash Flow of ~$1.6bn in 2023(³)
Bought 8% of shares YTD(4); raising '23 floor to 15%
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(1) Amounts exclude the fair values for the VMO2 JV, the VodafoneZiggo JV and SMAs and also reflect fair value adjustments for certain investments that have a higher estimated fair value than reported book value.
(2) Including amounts held under SMAS.
(3) 2023 Distributable Cash Flow guidance reflects FX rates of EUR/USD 1.07, GBP/USD 1.21 and CHF/USD 1.08. See the Appendix for definitions.
(4) Represents shares repurchased through July 21, 2023.
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