Liberty Global lost customers in all of the non-JV markets it was present in the second quarter.
The biggest loss in organic customers was in Switzerland (-9,000), followed by Ireland (-4,500), Belgium (-4,400) and Ireland (-2,000). The total loss of 19,900 compared to one of -2,400 in the second quarter of last year, when the UK, prior to the closing if the joint venture with O2, in fact gained 13,300 customers. Liberty Global’s total revenues in its non-JV markets amounted to $1,754.2 million, down from $2,989.2 million in Q2 2021. Adjusted EBITDA was $649.8 million, compared to $1,199.1 million a year earlier.
In his comments on the results, CEO Mike Fries said: “Despite an increasingly difficult macroeconomic environment developing throughout the second quarter, demand for connectivity remains high and we are well positioned to execute on our strategic and financial goals. In each of our core operating markets, we remain focused on product innovation and offering the best value for our customers, especially as they manage through the effects of increased living costs. At the same time, we are proactively addressing the impacts on our costs while supporting our network investments across fixed and mobile.
Looking forward to the second half of year, he added that “the realisation of synergies is expected to continue driving cash flow growth in the UK, while recent price adjustments in the Netherlands and Belgium should support improved financial results in both markets”.
