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Liberty Global sees RGU growth, September launch for Horizon

Liberty Global added 364,000 organic revenue-generating units in the quarter to June. Liberty Global CEO Mike Fries said the company would launch its long-awaited Horizon set-top box in the Netherlands next month, to be followed by a launch in Switzerland sometime in the fourth quarter.

Liberty Global had 19.6 million customers taking 33.8 million services at the end of June. Total RGU growth for the quarter amounted to 439,000, with organic growth topped up by a number of small acquisitions in Hungary, Switzerland and the Netherlands. The company added new RGUs across its UPC Broadband European operations, with strong growth recorded in Germany and central and eastern Europe.

Liberty lost 83,000 video customers during the second quarter, similar to the level of losses last year. Digital cable growth year-on-year increased by 13%, with 244,000 additions over the quarter. Some 49% of he company’s video customers are now digital. Liberty also added 208,000 broadband RGUs over the quarter.

Liberty Global posted revenues of US$2.52 billion (€2.06 billion) for the quarter, up 5.2% on a like-for-like basis. Operating income fell by 3% to US$479 million. Fries said the company expected to meet its full-year 2012 guidance targets, with operating cash-flow growth recovering after a modest second quarter dip.