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Dec 31, 2019
Liberty Global Q4 2019 Earnings Report
Liberty Global's Q4 2019 results were announced, revealing a mix of revenue and subscriber trends across its European markets.
Key Takeaways
Liberty Global reported Q4 2019 results, with revenue decreasing slightly by 0.5% on a rebased basis. Operating income increased by 12.0% year-over-year. The company saw organic net RGU losses and organic customer losses, but added mobile subscribers. The company is forecasting a mid-single-digit rebased OCF decline, mid-single-digit rebased OFCF growth and approximately $1 billion of Adjusted FCF for the full year 2020.
Rebased revenue decreased 0.5% in Q4.
Operating income increased 12.0% year-over-year.
The company lost 25,500 organic customers
The company added 87,500 mobile subscribers.
Forward Guidance
For the full year 2020, the company is forecasting a mid-single-digit rebased OCF decline, mid-single-digit rebased OFCF growth and approximately $1 billion of Adjusted FCF.
Positive Outlook
- Expected launch of 5G speeds at Virgin Media
- New $1 billion share repurchase plan authorized.
- Focus on fixed-mobile convergence driving mobile subscription growth.
- Cutting-edge FMC bundles.
- Continued success of turnaround plan in Switzerland.
Challenges Ahead
- Anticipated headwinds in 2020.
- Organic OCF decline
- Possibility of subscribers not upgrading to advanced offerings.
- Potential challenges from competition.
- Effects of changes in laws or regulation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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