Liberty Global Reports Fiscal 2012 Results

Liberty Global, Inc. (“Liberty Global,” “LGI,” or the “Company”) (NASDAQ: LBTYA, LBTYB and LBTYK), today announces financial and operating results for the year and three months (“Q4”) ended December 31, 2012. Highlights for the full year compared to the same period for 2011 (unless noted), include: 1
  • Organic RGU 2 additions increased 34% to 1.6 million in 2012, including 465,000 in Q4
  • Revenue of $10.3 billion, reflecting rebased 3 growth of 6%
  • Operating Cash Flow (“OCF”) 4 of $4.9 billion, representing rebased growth of 4%
  • Operating income increased 9% to $2.0 billion
  • Adjusted Free Cash Flow (“Adjusted FCF”) 5 of $1.0 billion, up 31%
  • 2012 stock repurchases totaled approximately $1.0 billion

Liberty Global President and CEO Mike Fries stated, “2012 was a great year for our company and we finished on a high note, reporting our strongest subscriber growth ever in the fourth quarter. For the full year we added 1.6 million organic RGUs, including 465,000 in Q4 alone. These record results were driven by the success of our triple-play bundles, which leverage our superior broadband speeds and resulted in record annual broadband internet and telephony subscriber additions. At the same time, we made significant progress on our product roadmap with the introduction in the Dutch market of Horizon TV, our revolutionary media and entertainment platform. Within five short months we have sold over 100,000 subscriptions and have over 200,000 unique users enjoying our on-line and multiscreen services in the Netherlands. In January of 2013, we introduced Horizon TV in Switzerland and the response has been overwhelmingly positive.”

“Our strength in subscriber additions helped fuel rebased revenue growth of 7% in the fourth quarter to $2.7 billion, which was our best quarterly result in five years. Also in Q4, rebased OCF increased 6% to $1.3 billion, consistent with our expectation for accelerated growth in the second half of 2012. From an Adjusted Free Cash Flow perspective, we delivered over $1.0 billion for the full year, a 31% increase compared to 2011. Having achieved or exceeded all of our 2012 guidance targets, we are bullish regarding our 2013 prospects and began the year with strong operating momentum.”

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