Liberty Global, Inc. (“Liberty Global,” “LGI,” or the “Company”) (NASDAQ: LBTYA, LBTYB and LBTYK), today announces financial and operating results for the year and the three months (“Q4”) ended December 31, 2011. Please note that our Australian business, Austar, has been reclassified to discontinued operations for all periods presented. Highlights for the full year compared to the same period for 2010 (unless noted), include: 1
- Organic RGU 2 additions increased 42% to 1.2 million
- Revenue of $9.5 billion, representing rebased 3 growth of 5%
- Operating Cash Flow (“OCF”) 4 of $4.5 billion, reflecting rebased growth of 5%
- Operating income increased 30% to $1.8 billion
- Adjusted Free Cash Flow (“Adjusted FCF”) 5 of $791 million, up 20%
Liberty Global’s President and CEO Mike Fries commented, “The operating momentum we exhibited throughout 2011 continued into the fourth quarter with 380,000 net RGU additions, and 1.2 million for the full year. Our broadband bundles are driving demand across our footprint, which is now over 90% upgraded to offer 100+ Mbps speeds. 6 This demand propelled us to a record quarter in both broadband and telephony, as we added approximately 230,000 RGUs of each product in the fourth quarter.”
“Strong subscriber growth helped generate rebased revenue growth of 5% in the fourth quarter to $2.4 billion, while OCF also increased 5% on a rebased basis to $1.1 billion. For the full year, we generated revenue of $9.5 billion and OCF of $4.5 billion, reflecting rebased growth of 5% for both. We achieved or exceeded all of our operating guidance targets, including Adjusted Free Cash Flow, which grew 20% to $791 million. Looking ahead, we are optimistic regarding our growth prospects in 2012 given the strong RGU additions that we have seen so far this year.”
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