Liberty Global lost just over 100,000 video RGUs in its continuing European operations in the first three months of this year.
The latest set of results published by the company show that it ended March with a total of 24,932,300, or 104,700 fewer than three months earlier.
The biggest falls were seen in the UK and Ireland (-83,800), while one market (Poland) bucked the trend, gaining 17,000 video RGUs in the quarter.
Liberty’s mobile operation performed much better, gaining a total of 67,400 RGUs in the quarter.
On a year-on-year basis, Liberty notes that it lost 18,900 RGUs in Q1, compared to 1,700 in the same period in 2019. In the UK and Ireland the loss stood at 1,000 in Q1, as growth from new build areas was offset by attrition in the non-Lightning footprint.
Although the loss in Switzerland amounted to 16,000 in Q1, it was an improvement on the 24,000 a year earlier.
Liberty’s CEE operations in Poland and Slovakia gained a total 6,000 RGUs in Q1, half the number 12 months earlier.
Liberty’s revenues in Q1 amounted to $2,875.8 million in Q1, up 0.3% on a reported basis, but 0.3% lower rebased, on a year earlier. Net earning attributable to Liberty Global shareholders amounted to $949.8 million, compared to $7 million a year earlier.
In his comments on the results CEO Mike Fries concluded by saying: “We are still assessing the medium-term impact from the COVID-19 crisis on our financial guidance and expect to update investors on our second quarter earnings call. For now, however, we remain encouraged by our operating prospects and do not currently see the need to change or suspend our full-year guidance. Meanwhile, our balance sheet remains in great shape and we have over $10 billion of liquidity. We did remain active on share buybacks, spending nearly $500 million from
