Liberty Global’s next generation video platforms, which include Horizon TV, Horizon-Lite, TiVo, Virgin TV V6 and Yelo TV, gained 210,000 subscribers in the fourth quarter of 2017.
In its latest set of results, the company says that as of year’s end its advanced platforms had 7.7 million customers, or 43% of the total cable video base, excluding DTH.
Meanwhile, deployments of its latest WiFi Connect box increased by more than 1 million in Q4, ending the quarter with an installed base of over 6.4 million, or 43% of broadband subscribers across Europe.
Liberty also gained 95,000 mobile subscribers in Q4, with 119,000 postpaid additions partially offset by continued attrition in its low-ARPU prepaid base.
All told, the company gained 149,200 organic RGUs in Q4 2017, compared to 272,600 (excluding the Netherlands) in the same period a year earlier. Only in Central and Eastern Europe were net additions in the two periods almost comparable (117,300 in Q4 2017, v 120,700 a year earlier).
Liberty notes that on the fixed cable product side across its European operations, there was a decline in all three products year-on-year. In terms of revenues, the total in Q4 amounted to $3,987.7 million, slightly down the $4,216.6 million in the corresponding period in 2016.
Full year 2017 revenues, however, were, at $15,048.9 million, down from the $17,285 million posted in 2016. Meanwhile, operating income in Q4 2017 and FY 2017 was 27% and 22% down respectively on the corresponding periods in 2016.
Liberty had a net loss of $992 million in Q4, compared to net earnings of $2,223 million a year earlier. Its FY net loss in 2017 of $2,2778 million contrasted to net earnings of $1,795 million in 2016.
In his comments on the results, CEO Mike Fries said that they were driven by solid performances in Germany and the UK, together with continued cost efficiencies from its Liberty GO programme.
“Looking ahead, in 2018 we expect to deliver around 5% rebased OCF growth, Adjusted Free Cash Flow of $1.6 billion and P&E additions of $5.1 billion, including $1.2 billion of spend for new build and upgrade for the full year. These investments, which underpin our customer-centric focus, leave us well placed to deliver long-term sustainable growth.”
