Liberty Posted February 16, 2017 Author Share Posted February 16, 2017 Q4: European Highlights • 2016 RGU additions of 946,000 were up 24% or 186,000 year-over-year on an organic basis Increase driven by materially lower video churn and higher broadband gains YoY improvement fueled by 304,000 U.K. adds and turnaround in the Netherlands • Q4 organic customer relationship15 additions of 46,000 drove full-year increase of 25,000 • Gained 402,000 organic mobile postpaid subscribers in 2016, driven by the U.K. and Belgium • Q4 Operating income up 22% YoY, rebased OCF growth excluding Ziggo of 7.5% in Q4 2016 Operating income increased 18%, while rebased OCF (excl. Ziggo) grew 4.3% • Delivered $2.0 billion of Adjusted FCF in 2016, beating our guidance of $1.8 billion16 • Achieved our new build program target of >1.3 million European homes during 2016 Added 1.4 million new homes in 2016, including 465,000 in U.K./Ireland Presentation: http://www.libertyglobal.com/pdf/presentations/Liberty-Global-Group-Q4-2016-Investor-Call-Presentation-FINAL.pdf Link to comment Share on other sites More sharing options...
Liberty Posted March 15, 2017 Author Share Posted March 15, 2017 Here we are again, new rumors that LBTYA and VOD are back at the negotiation table: https://www.theregister.co.uk/2017/03/15/vodafone_liberty/ Link to comment Share on other sites More sharing options...
rogermunibond Posted March 15, 2017 Share Posted March 15, 2017 Could be a Germany JV like what they did with the Dutch JV. Link to comment Share on other sites More sharing options...
marazul Posted March 15, 2017 Share Posted March 15, 2017 Germany JV is not very likely imho, since Unitymedia is a regional operator...while Ziggo basically covers a high % of the country making it a better fit to offer mobile service with Link to comment Share on other sites More sharing options...
rogermunibond Posted March 21, 2017 Share Posted March 21, 2017 VOD deal in India with Idea and Birla. Frees up balance sheet by deconsolidating Vodafone India. Could free up cash by selling stake in India cell tower business too. https://www.ft.com/content/e2f80606-0d68-11e7-a88c-50ba212dce4d Link to comment Share on other sites More sharing options...
Liberty Posted May 7, 2017 Author Share Posted May 7, 2017 Q1 results: http://www.libertyglobal.com/pdf/press-release/LG-Q1-2017-Press-Release-FINAL.pdf Link to comment Share on other sites More sharing options...
scorpioncapital Posted May 7, 2017 Share Posted May 7, 2017 'rebased OCF'? Sends shivers down my spine :) Link to comment Share on other sites More sharing options...
Spekulatius Posted May 7, 2017 Share Posted May 7, 2017 Lilac numbers are crappy. OCF for CWC is down almost 20% YoY. Unfortunately CWC is now 2/3 of the company. Link to comment Share on other sites More sharing options...
muscleman Posted May 8, 2017 Share Posted May 8, 2017 Lilac numbers are crappy. OCF for CWC is down almost 20% YoY. Unfortunately CWC is now 2/3 of the company. I lost quite a bit of money on LILA and sold at a big loss last year. I am glad I did the right thing. >:( Link to comment Share on other sites More sharing options...
fa21212 Posted May 8, 2017 Share Posted May 8, 2017 YoY is less important than sequential given that previous management juiced the numbers right before they sold to get a bigger bonus. But sequentially it's still not great, but not that bad. Link to comment Share on other sites More sharing options...
Shooter MacGavin Posted May 10, 2017 Share Posted May 10, 2017 I really don't understand what is going on with Mobile in the UK? Can anyone explain it to me. On the call, Mike Fries punted to the CFO. and then he basically said, "Mike already mentioned the issues with mobile". There were a few things going on but I don't understand them. 1) prepaid subs in Belgium declined in response to a regulation that requires SIM card registration?? why would this matter? 2) Decrease in UK mobile relates to: 1) lower ARPU in UK including $22.9M decline in post paid mobile revenue related to "UK split contract Program."... anyone understand what they're talking about here? They also lost 8M in Fixed line revenue due to a changes in regulations governing payment handling fees. That is discussed here: http://www.ispreview.co.uk/index.php/2016/03/virgin-media-slash-non-direct-debit-payment-handling-fees-45p.html Guess they were ripping off their customers with a 5 pound charge for debit payments! I'm sorta tired of listening to the constant sales pitch from Mike Fries every quarter. They're really losing credibility. It's hard to focus on their earnings calls because they aren't consistent in discussing results. They just tell you all the numbers that are going up. Link to comment Share on other sites More sharing options...
Liberty Posted August 7, 2017 Author Share Posted August 7, 2017 Q2: http://www.libertyglobal.com/pdf/press-release/LG-Q2-2017-Press-Release-FINAL.pdf Q2 Rebased OCF Growth of 6% in Europe Q2 LBTY Share Repurchases of $1.2 Billion and $2.2 Billion YTD Link to comment Share on other sites More sharing options...
fareastwarriors Posted August 13, 2017 Share Posted August 13, 2017 America’s ‘Cable Cowboy’ Lays the Groundwork for Internet Dominance Beyond the U.S. John Malone’s Liberty Global is betting on the next generation of wireless service https://www.wsj.com/articles/americas-cable-cowboy-lays-the-groundwork-for-internet-dominance-beyond-the-u-s-1502622002 Link to comment Share on other sites More sharing options...
forest81 Posted August 14, 2017 Share Posted August 14, 2017 Lou Simpson adding Link to comment Share on other sites More sharing options...
Shooter MacGavin Posted November 2, 2017 Share Posted November 2, 2017 Another dookie quarter. Why am I even in this name? http://www.libertyglobal.com/pdf/press-release/LG-Q3-2017-Press-Release-FINAL.pdf Link to comment Share on other sites More sharing options...
Liberty Posted November 29, 2017 Author Share Posted November 29, 2017 Restarting the deal rumor mill: http://www.telegraph.co.uk/business/2017/11/28/virgin-media-owner-liberty-global-eyes-swiss-exit-latest-manoeuvre/ Link to comment Share on other sites More sharing options...
walkie518 Posted December 7, 2017 Share Posted December 7, 2017 a lot of speculation here Austria is a very small market with very little room for growth and scaling outside of Austria is difficult minus whatever the underlying value of administrative synergies...and I believe the Swiss team manages the Austrian assets that said, the stock might be as cheap as it is misunderstood the play, as I understand it, is the synergies found when collapsing the categories of cable broadband and wireless carrier as different businesses and markets I think they are on the cusp of material improvements in cash flows Link to comment Share on other sites More sharing options...
EricSchleien Posted December 7, 2017 Share Posted December 7, 2017 a lot of speculation here Austria is a very small market with very little room for growth and scaling outside of Austria is difficult minus whatever the underlying value of administrative synergies...and I believe the Swiss team manages the Austrian assets that said, the stock might be as cheap as it is misunderstood the play, as I understand it, is the synergies found when collapsing the categories of cable broadband and wireless carrier as different businesses and markets I think they are on the cusp of material improvements in cash flows It's cheap but I'd say LiLAC is cheaper. Link to comment Share on other sites More sharing options...
mwtorock Posted December 7, 2017 Share Posted December 7, 2017 LiLAC does look interesting, plus Malone bought more of that at higher PPS I heard. Will look more into it. Link to comment Share on other sites More sharing options...
dwy000 Posted December 7, 2017 Share Posted December 7, 2017 LILAC is definitely cheap but I'm still not sure of the long term impacts of the hurricanes on Puerto Rico. Is it a temporary rebuild covered by insurance or a larger hit to the long term value of that franchise. Link to comment Share on other sites More sharing options...
walkie518 Posted December 7, 2017 Share Posted December 7, 2017 LILAC might be cheaper but it's likely not to return until everything gets cleaned up If any of you follow the reinsurance markets, the clear trend is that natural disasters are not only more severe but more frequent LILAC may always trade under the European assets because of the additional risk, which in turn might yield greater performance over time That said, the recent hurricane season has had an impact and the business needs a couple years before material improvements will be felt I'm of the opinion that Liberty Global will likely see results sooner and that the stock is not priced to reflect Link to comment Share on other sites More sharing options...
EricSchleien Posted December 7, 2017 Share Posted December 7, 2017 LILAC might be cheaper but it's likely not to return until everything gets cleaned up If any of you follow the reinsurance markets, the clear trend is that natural disasters are not only more severe but more frequent LILAC may always trade under the European assets because of the additional risk, which in turn might yield greater performance over time That said, the recent hurricane season has had an impact and the business needs a couple years before material improvements will be felt I'm of the opinion that Liberty Global will likely see results sooner and that the stock is not priced to reflect 1. It's actually pretty easy to figure out impact of hurricane. If you take extreme worse case scenarios then see how that impacts intrinsic value. 2. Waiting for things to clear. By the time things get more certain, the market will bid that up. Link to comment Share on other sites More sharing options...
Liberty Posted December 21, 2017 Author Share Posted December 21, 2017 “Liberty Global near deal to sell Austrian $2B to Deutsche Telekom”: https://www.ft.com/content/6f67630c-9006-3c36-b391-10097fe66aad Link to comment Share on other sites More sharing options...
forest81 Posted December 22, 2017 Share Posted December 22, 2017 Deal Done. Good price for a business doing $342m a year. Personally think the Vodaphone deal will happen now. Makes so much sense if they can manage to put the businesses together. https://www.ft.com/content/7bd29f22-bb2d-3684-bccf-083ed1a5d2b0 Link to comment Share on other sites More sharing options...
scorpioncapital Posted December 22, 2017 Share Posted December 22, 2017 interesting question. Is selling a small business earning 17% worth it to buy a big business earning probably much less? Size vs profitability, is there a clear winner? Link to comment Share on other sites More sharing options...
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