England and Wales | 001-35961 | 98-1112770 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification #) |
LIBERTY GLOBAL PLC | ||
By: | /s/ RANDY L. LAZZELL | |
Randy L. Lazzell | ||
Vice President |
Exhibit No. | Name |
99.1 | Press Release |
• | Organic RGU1 additions of 135,000 in Q3 2013, up 10% year-over-year |
◦ | Led by improved year-over-year performances in Chile and the Netherlands |
◦ | Launched Horizon TV in Ireland during Q3, bringing our aggregate Horizon TV subscriber base to more than 340,000 through October 2013 |
• | Q3 RGU additions increased by more than 90% as compared to Q2 2013 additions of 69,000, reflecting improved sequential performance in seven of our nine European markets |
◦ | Strengthened our triple-play offers with higher broadband speeds |
• | Generated Q3 and YTD revenue of €1.06 billion and €3.22 billion, respectively |
◦ | Reflecting rebased2 growth of 1% and 2%, respectively |
• | Reported Operating Cash Flow (“OCF”)3 of €520 million for Q3 and €1.53 billion YTD |
◦ | Representing a rebased decline of 1% in Q3 and growth of 1% YTD |
• | Operating income of €266 million for Q3 and €769 million YTD |
• | Minimal near-term maturities, with less than 15% of third-party debt due before 2019 |
September 30, | June 30, | |||||||
2013 | 2013 | |||||||
in millions | ||||||||
UPC Broadband Holding Bank Facility | € | 4,137.6 | € | 4,191.0 | ||||
UPCB Finance Limited 7.625% Senior Secured Notes due 2020 | 496.9 | 496.8 | ||||||
UPCB Finance II Limited 6.375% Senior Secured Notes due 2020 | 750.0 | 750.0 | ||||||
UPCB Finance III Limited 6.625% Senior Secured Notes due 2020 | 739.0 | 768.9 | ||||||
UPCB Finance V Limited 7.25% Senior Secured Notes due 2021 | 554.3 | 576.7 | ||||||
UPCB Finance VI Limited 6.875% Senior Secured Notes due 2022 | 554.3 | 576.7 | ||||||
UPC Holding 9.875% Senior Notes due 2018 | 281.5 | 292.2 | ||||||
UPC Holding 8.375% Senior Notes due 2020 | 640.0 | 640.0 | ||||||
UPC Holding 6.375% Senior Notes due 2022 | 595.0 | 594.9 | ||||||
UPC Holding 6.75% € Senior Notes due 2023 | 450.0 | 450.0 | ||||||
UPC Holding 6.75% CHF Senior Notes due 2023 | 286.0 | 284.5 | ||||||
Other debt, including vendor financing and capital lease obligations | 249.4 | 191.5 | ||||||
Total third-party debt | € | 9,734.0 | € | 9,813.2 | ||||
Cash and cash equivalents | € | 69.4 | € | 63.1 |
As of September 30, 2013 | ||||||||||||||||
Facility | Final maturity | Interest rate | Facility Amount11 | Unused borrowing capacity | Carrying value12 | |||||||||||
Facility Q | July 31, 2014 | E + 2.75% | € | 30.0 | € | 30.0 | € | — | ||||||||
Facility R | Dec. 31, 2015 | E + 3.25% | € | 111.0 | — | 111.0 | ||||||||||
Facility S | Dec. 31, 2016 | E + 3.75% | € | 545.5 | — | 545.5 | ||||||||||
Facility V | Jan. 15, 2020 | 7.625% | € | 500.0 | — | 500.0 | ||||||||||
Facility Y | July 1, 2020 | 6.375% | € | 750.0 | — | 750.0 | ||||||||||
Facility Z | July 1, 2020 | 6.625% | $ | 1,000.0 | — | 739.0 | ||||||||||
Facility AC | Nov. 15, 2021 | 7.250% | $ | 750.0 | — | 554.3 | ||||||||||
Facility AD | Jan. 15, 2022 | 6.875% | $ | 750.0 | — | 554.3 | ||||||||||
Facility AE | Dec. 31, 2019 | E + 3.75% | € | 602.5 | — | 602.5 | ||||||||||
Facility AF | Jan. 31, 2021 | L + 3.00%13 | $ | 500.0 | — | 365.8 | ||||||||||
Facility AG | Mar. 31, 2021 | E + 3.75% | € | 1,554.4 | — | 1,550.9 | ||||||||||
Facility AH | June 30, 2021 | L + 2.50%14 | $ | 1,305.0 | — | 961.9 | ||||||||||
Facility AI | April 30, 2019 | E + 3.25% | € | 1,016.2 | 1,016.2 | — | ||||||||||
Elimination of Facilities V, Y, Z, AC and AD in consolidation | — | (3,097.6 | ) | |||||||||||||
Total | € | 1,046.2 | € | 4,137.6 |
Investor Relations: | Corporate Communications: | ||
Christopher Noyes | +1 303 220 6693 | Marcus Smith | +44 20 7190 6374 |
Oskar Nooij | +1 303 220 4218 | Bert Holtkamp | +31 20 778 9800 |
John Rea | +1 303 220 4238 |
1 | Please see footnotes to the operating data table for the definition of revenue generating units (“RGUs”). Organic figures exclude RGUs of acquired entities at the date of acquisition, but include the impact of changes in RGUs from the date of acquisition. All subscriber/RGU additions or losses refer to net organic changes, unless otherwise noted. |
2 | Please see page 8 for supplemental information on rebased growth. |
3 | Please see page 11 for our definition of operating cash flow and a reconciliation to operating income. |
4 | Advanced service RGUs represent our services related to digital video, including digital cable and direct-to-home satellite (“DTH”), broadband internet and telephony. |
5 | ARPU per customer relationship refers to the average monthly subscription revenue per average customer relationship and is calculated by dividing the average monthly subscription revenue (excluding installation, late fees and mobile service revenue) for the indicated period, by the average of the opening and closing balances for customer relationships for the period. Customer relationships of entities acquired during the period are normalized. Unless otherwise indicated, ARPU per customer relationship for UPC Europe and UPC Holding are not adjusted for currency impacts. ARPU per customer relationship amounts reported for periods ended prior to January 1, 2013 have not been restated to reflect the April 1, 2013 change in our reporting of DSL internet and telephony RGUs in Austria, which we no longer include in our ARPU calculations. |
6 | OCF margin is calculated by dividing OCF by total revenue for the applicable period. |
7 | Additions to property and equipment include our capital expenditures on an accrual basis and our vendor financing, capital lease and other non-cash additions. |
8 | Broadband penetration is calculated by dividing the number of broadband internet RGUs by two-way homes passed. |
9 | Our fully-swapped debt borrowing cost represents the weighted average interest rate on our aggregate variable and fixed rate indebtedness (excluding capital lease obligations), including the effects of derivative instruments, original issue premiums or discounts and commitment fees, but excluding the impact of financing costs. |
10 | UPCB Finance Limited, UPCB Finance II Limited, UPCB Finance III Limited, UPCB Finance V Limited and UPCB Finance VI Limited are special purpose financing companies created for the primary purpose of issuing senior secured notes and are owned 100% by charitable trusts. We used the proceeds from the senior secured notes to fund Facilities V, Y, Z, AC and AD under the UPC Broadband Holding Bank Facility, with UPC Financing Partnership (“UPC Financing”), our direct subsidiary, as the borrower. These special purpose financing companies are dependent on payments from UPC Financing under Facilities V, Y, Z, AC and AD in order to service their payment obligations under the senior secured notes. As such, these companies are variable interest entities and UPC Financing and its parent entities, including UPC Holding, are required by accounting principles generally accepted in the U.S. (“U.S. GAAP”) to consolidate these companies. Accordingly, the amounts outstanding under Facilities V, Y, Z, AC and AD eliminate within our condensed consolidated financial statements. |
11 | Except as described in note 10 above, amounts represent total third-party commitments at September 30, 2013 without giving effect to the impact of discounts. |
12 | Facilities AF, AG and AH carrying values include the impact of discounts. |
13 | The Facility AF interest rate includes a LIBOR floor of 1.00%. |
14 | The Facility AH interest rate includes a LIBOR floor of 0.75%. |
15 | Our covenant calculations are based on debt amounts which take into account currency swaps calculated at weighted average FX rates across the period. Thus, the debt used in the calculations may differ from the debt balances reported within the financial statements. |
Revenue | Three months ended September 30, | Increase (decrease) | Increase (decrease) | ||||||||||||||
2013 | 2012 | € | % | Rebased % | |||||||||||||
in millions, except % amounts | |||||||||||||||||
UPC Europe: | |||||||||||||||||
The Netherlands | € | 230.4 | € | 239.9 | € | (9.5 | ) | (4.0 | ) | (4.0 | ) | ||||||
Switzerland | 250.6 | 246.1 | 4.5 | 1.8 | 4.3 | ||||||||||||
Other Western Europe | 168.7 | 166.1 | 2.6 | 1.6 | 1.6 | ||||||||||||
Total Western Europe | 649.7 | 652.1 | (2.4 | ) | (0.4 | ) | 0.5 | ||||||||||
Central and Eastern Europe | 210.6 | 218.7 | (8.1 | ) | (3.7 | ) | (1.1 | ) | |||||||||
Central and other | 25.3 | 22.8 | 2.5 | 11.0 | * | ||||||||||||
Total UPC Europe | 885.6 | 893.6 | (8.0 | ) | (0.9 | ) | 0.4 | ||||||||||
Chile (VTR) | 179.0 | 187.0 | (8.0 | ) | (4.3 | ) | 6.5 | ||||||||||
Total | € | 1,064.6 | € | 1,080.6 | € | (16.0 | ) | (1.5 | ) | 1.3 |
Nine months ended September 30, | Increase (decrease) | Increase (decrease) | |||||||||||||||
2013 | 2012 | € | % | Rebased % | |||||||||||||
in millions, except % amounts | |||||||||||||||||
UPC Europe: | |||||||||||||||||
The Netherlands | € | 700.9 | € | 713.4 | € | (12.5 | ) | (1.8 | ) | (1.8 | ) | ||||||
Switzerland | 745.4 | 728.8 | 16.6 | 2.3 | 4.5 | ||||||||||||
Other Western Europe | 505.4 | 490.1 | 15.3 | 3.1 | 3.1 | ||||||||||||
Total Western Europe | 1,951.7 | 1,932.3 | 19.4 | 1.0 | 1.8 | ||||||||||||
Central and Eastern Europe | 644.0 | 647.1 | (3.1 | ) | (0.5 | ) | — | ||||||||||
Central and other | 75.0 | 67.1 | 7.9 | 11.8 | * | ||||||||||||
Total UPC Europe | 2,670.7 | 2,646.5 | 24.2 | 0.9 | 1.6 | ||||||||||||
Chile (VTR) | 549.6 | 533.5 | 16.1 | 3.0 | 5.7 | ||||||||||||
Total | € | 3,220.3 | € | 3,180.0 | € | 40.3 | 1.3 | 2.3 |
Operating Cash Flow | Three months ended September 30, | Increase (decrease) | Increase (decrease) | ||||||||||||||
2013 | 2012 | € | % | Rebased % | |||||||||||||
in millions, except % amounts | |||||||||||||||||
UPC Europe: | |||||||||||||||||
The Netherlands | € | 133.0 | € | 146.9 | € | (13.9 | ) | (9.5 | ) | (9.5 | ) | ||||||
Switzerland | 151.4 | 141.0 | 10.4 | 7.4 | 9.9 | ||||||||||||
Other Western Europe | 85.9 | 82.6 | 3.3 | 4.0 | 4.1 | ||||||||||||
Total Western Europe | 370.3 | 370.5 | (0.2 | ) | (0.1 | ) | 0.9 | ||||||||||
Central and Eastern Europe | 99.7 | 109.9 | (10.2 | ) | (9.3 | ) | (6.6 | ) | |||||||||
Central and other | (31.4 | ) | (28.4 | ) | (3.0 | ) | (10.6 | ) | * | ||||||||
Total UPC Europe | 438.6 | 452.0 | (13.4 | ) | (3.0 | ) | (1.6 | ) | |||||||||
Chile (VTR) | 80.9 | 85.1 | (4.2 | ) | (4.9 | ) | 5.7 | ||||||||||
Total | € | 519.5 | € | 537.1 | € | (17.6 | ) | (3.3 | ) | (0.5 | ) |
Nine months ended September 30, | Increase (decrease) | Increase (decrease) | |||||||||||||||
2013 | 2012 | € | % | Rebased % | |||||||||||||
in millions, except % amounts | |||||||||||||||||
UPC Europe: | |||||||||||||||||
The Netherlands | € | 403.9 | € | 425.4 | € | (21.5 | ) | (5.1 | ) | (5.1 | ) | ||||||
Switzerland | 434.2 | 415.6 | 18.6 | 4.5 | 6.7 | ||||||||||||
Other Western Europe | 246.1 | 232.4 | 13.7 | 5.9 | 5.9 | ||||||||||||
Total Western Europe | 1,084.2 | 1,073.4 | 10.8 | 1.0 | 1.8 | ||||||||||||
Central and Eastern Europe | 309.5 | 320.1 | (10.6 | ) | (3.3 | ) | (2.6 | ) | |||||||||
Central and other | (104.4 | ) | (88.1 | ) | (16.3 | ) | (18.5 | ) | * | ||||||||
Total UPC Europe | 1,289.3 | 1,305.4 | (16.1 | ) | (1.2 | ) | (0.4 | ) | |||||||||
Chile (VTR) | 242.9 | 231.6 | 11.3 | 4.9 | 7.7 | ||||||||||||
Total | € | 1,532.2 | € | 1,537.0 | € | (4.8 | ) | (0.3 | ) | 0.8 |
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Total segment operating cash flow | € | 519.5 | € | 537.1 | € | 1,532.2 | € | 1,537.0 | ||||||||
Share-based compensation expense | (6.5 | ) | (5.4 | ) | (15.8 | ) | (14.1 | ) | ||||||||
Depreciation and amortization | (245.1 | ) | (272.8 | ) | (756.2 | ) | (790.8 | ) | ||||||||
Related-party fees and allocations, net | 1.2 | 11.1 | 11.4 | 16.2 | ||||||||||||
Impairment, restructuring and other operating items, net | (3.6 | ) | 0.8 | (2.2 | ) | (2.3 | ) | |||||||||
Operating income | € | 265.5 | € | 270.8 | € | 769.4 | € | 746.0 |
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
UPC Europe: | in millions, except % amounts | |||||||||||||||
The Netherlands | € | 41.0 | € | 33.0 | € | 138.9 | € | 120.6 | ||||||||
Switzerland | 33.8 | 45.7 | 128.7 | 129.1 | ||||||||||||
Other Western Europe | 27.3 | 26.3 | 82.3 | 83.0 | ||||||||||||
Total Western Europe | 102.1 | 105.0 | 349.9 | 332.7 | ||||||||||||
Central and Eastern Europe | 46.1 | 42.5 | 139.4 | 122.7 | ||||||||||||
Central and other | 55.0 | 28.7 | 155.8 | 85.0 | ||||||||||||
Total UPC Europe | 203.2 | 176.2 | 645.1 | 540.4 | ||||||||||||
Chile (VTR) | 27.3 | 38.9 | 107.6 | 126.7 | ||||||||||||
Total UPC Holding | € | 230.5 | € | 215.1 | € | 752.7 | € | 667.1 | ||||||||
Total Property and Equipment Additions as % of Revenue: | ||||||||||||||||
UPC Europe | 22.9 | % | 19.7 | % | 24.2 | % | 20.4 | % | ||||||||
Chile (VTR) | 15.3 | % | 20.8 | % | 19.6 | % | 23.7 | % | ||||||||
Total UPC Holding | 21.7 | % | 19.9 | % | 23.4 | % | 21.0 | % |
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
in millions | ||||||||||||||||
Customer premises equipment | € | 105.5 | € | 96.5 | € | 341.1 | € | 308.6 | ||||||||
Scalable infrastructure | 45.2 | 38.1 | 129.1 | 115.3 | ||||||||||||
Line extensions | 17.8 | 25.4 | 72.8 | 73.3 | ||||||||||||
Upgrade/rebuild | 20.0 | 20.4 | 55.1 | 56.5 | ||||||||||||
Support capital | 42.0 | 34.7 | 154.6 | 113.4 | ||||||||||||
Property and equipment additions | 230.5 | 215.1 | 752.7 | 667.1 | ||||||||||||
Assets acquired under capital-related vendor financing arrangements1 | (54.6 | ) | (44.6 | ) | (88.5 | ) | (111.8 | ) | ||||||||
Assets acquired under capital leases1 | (1.1 | ) | (0.7 | ) | (2.2 | ) | (1.4 | ) | ||||||||
Assets contributed by parent company2 | (6.5 | ) | (6.5 | ) | (16.9 | ) | (6.5 | ) | ||||||||
Changes in current liabilities related to capital expenditures (including related-party amounts) | 91.7 | 4.6 | (39.7 | ) | 10.3 | |||||||||||
Capital expenditures | € | 260.0 | € | 167.9 | € | 605.4 | € | 557.7 | ||||||||
Total Capital Expenditures: | ||||||||||||||||
UPC Europe | € | 225.6 | € | 129.8 | € | 505.5 | € | 434.6 | ||||||||
Chile (VTR) | 34.4 | 38.1 | 99.9 | 123.1 | ||||||||||||
Total UPC Holding | € | 260.0 | € | 167.9 | € | 605.4 | € | 557.7 |
1 | The capital expenditures that we report in our consolidated statements of cash flows do not include amounts that are financed under vendor financing or capital lease arrangements. Instead, these expenditures are reflected as non-cash additions to our property and equipment when the underlying assets are delivered and as repayments of debt when the principal is repaid. |
2 | Represents non-cash contributions of property and equipment that we received from our parent company. These amounts are excluded from the capital expenditures that we report in our consolidated statements of cash flows. |
September 30, 2013 | June 30, 2013 | September 30, 2012 | Q3’13 / Q2'13 (% Change) | Q3’13 / Q3’12 (% Change) | ||||||||||
Total RGUs | ||||||||||||||
Video | 9,145,000 | 9,158,200 | 9,294,500 | (0.1 | %) | (1.6 | %) | |||||||
Broadband Internet | 5,637,100 | 5,560,200 | 5,343,800 | 1.4 | % | 5.5 | % | |||||||
Telephony | 4,188,200 | 4,111,700 | 3,865,000 | 1.9 | % | 8.4 | % | |||||||
UPC Holding Consolidated | 18,970,300 | 18,830,100 | 18,503,300 | 0.7 | % | 2.5 | % | |||||||
Total Customers | ||||||||||||||
Total Single-Play Customers | 4,839,400 | 4,915,000 | 5,269,700 | (1.5 | %) | (8.2 | %) | |||||||
Total Double-Play Customers | 1,788,000 | 1,813,300 | 1,953,300 | (1.4 | %) | (8.5 | %) | |||||||
Total Triple-Play Customers | 3,518,300 | 3,429,500 | 3,109,000 | 2.6 | % | 13.2 | % | |||||||
UPC Holding Consolidated | 10,145,700 | 10,157,800 | 10,332,000 | (0.1 | %) | (1.8 | %) | |||||||
% Double-Play Customers | ||||||||||||||
UPC Europe | 17.2 | % | 17.4 | % | 18.7 | % | (1.1 | %) | (8.0 | %) | ||||
Chile (VTR) | 20.8 | % | 20.9 | % | 20.5 | % | (0.5 | %) | 1.5 | % | ||||
UPC Holding Consolidated | 17.6 | % | 17.9 | % | 18.9 | % | (1.7 | %) | (6.9 | %) | ||||
% Triple-Play Customers | ||||||||||||||
UPC Europe | 33.1 | % | 32.1 | % | 28.0 | % | 3.1 | % | 18.2 | % | ||||
Chile (VTR) | 46.7 | % | 46.5 | % | 46.7 | % | 0.4 | % | — | |||||
UPC Holding Consolidated | 34.7 | % | 33.8 | % | 30.1 | % | 2.7 | % | 15.3 | % | ||||
RGUs per Customer Relationship | ||||||||||||||
UPC Europe | 1.83 | 1.82 | 1.75 | 0.5 | % | 4.6 | % | |||||||
Chile (VTR) | 2.14 | 2.14 | 2.14 | — | — | |||||||||
UPC Holding Consolidated | 1.87 | 1.85 | 1.79 | 1.1 | % | 4.5 | % |
Three months ended September 30, | FX Neutral | ||||||||||
2013 | 2012 | % Change | % Change4 | ||||||||
UPC Europe | € | 29.13 | € | 28.71 | 1.5% | 2.8% | |||||
Chile (VTR) | CLP 31,382 | CLP 30,854 | 1.7% | 1.7% | |||||||
UPC Holding Consolidated | € | 31.19 | € | 31.15 | 0.1% | 3.1% |
3 | Please see page 7 for information on ARPU. |
4 | The FX-neutral change represents the percentage change on a year-over-year basis adjusted for FX impacts and is calculated by adjusting the prior year figures to reflect translation at the foreign currency rates used to translate the current year amounts. |
Consolidated Operating Data – September 30, 2013 | ||||||||||||||||||||||||||||||||
Homes Passed(1) | Two-way Homes Passed(2) | Customer Relationships(3) | Total RGUs(4) | Video | Internet Subscribers(9) | Telephony Subscribers(10) | ||||||||||||||||||||||||||
Analog Cable Subscribers(5) | Digital Cable Subscribers(6) | DTH Subscribers(7) | MMDS Subscribers(8) | Total Video | ||||||||||||||||||||||||||||
UPC Europe: | ||||||||||||||||||||||||||||||||
The Netherlands(11) | 2,833,600 | 2,820,200 | 1,655,100 | 3,682,900 | 551,800 | 1,101,500 | — | — | 1,653,300 | 1,053,600 | 976,000 | |||||||||||||||||||||
Switzerland(11) | 2,129,000 | 1,861,700 | 1,469,700 | 2,525,100 | 809,400 | 621,000 | — | — | 1,430,400 | 647,400 | 447,300 | |||||||||||||||||||||
Austria | 1,321,600 | 1,305,600 | 641,200 | 1,291,000 | 184,300 | 341,200 | — | — | 525,500 | 424,000 | 341,500 | |||||||||||||||||||||
Ireland | 860,200 | 746,100 | 534,700 | 1,040,000 | 54,000 | 336,700 | — | 40,200 | 430,900 | 330,000 | 279,100 | |||||||||||||||||||||
Total Western Europe | 7,144,400 | 6,733,600 | 4,300,700 | 8,539,000 | 1,599,500 | 2,400,400 | — | 40,200 | 4,040,100 | 2,455,000 | 2,043,900 | |||||||||||||||||||||
Poland | 2,699,800 | 2,585,100 | 1,434,500 | 2,655,400 | 427,800 | 823,000 | — | — | 1,250,800 | 888,400 | 516,200 | |||||||||||||||||||||
Hungary | 1,535,800 | 1,520,400 | 1,043,400 | 1,825,000 | 267,500 | 361,800 | 261,600 | — | 890,900 | 506,700 | 427,400 | |||||||||||||||||||||
Romania | 2,262,100 | 2,034,200 | 1,160,400 | 1,778,800 | 380,900 | 456,600 | 317,500 | — | 1,155,000 | 360,900 | 262,900 | |||||||||||||||||||||
Czech Republic | 1,355,200 | 1,249,800 | 727,300 | 1,188,000 | 78,000 | 381,900 | 105,800 | — | 565,700 | 437,900 | 184,400 | |||||||||||||||||||||
Slovakia | 497,700 | 470,900 | 285,600 | 425,600 | 64,800 | 129,700 | 62,200 | 700 | 257,400 | 107,500 | 60,700 | |||||||||||||||||||||
Total CEE | 8,350,600 | 7,860,400 | 4,651,200 | 7,872,800 | 1,219,000 | 2,153,000 | 747,100 | 700 | 4,119,800 | 2,301,400 | 1,451,600 | |||||||||||||||||||||
Total UPC Europe | 15,495,000 | 14,594,000 | 8,951,900 | 16,411,800 | 2,818,500 | 4,553,400 | 747,100 | 40,900 | 8,159,900 | 4,756,400 | 3,495,500 | |||||||||||||||||||||
Chile (VTR) | 2,905,600 | 2,383,700 | 1,193,800 | 2,558,500 | 140,600 | 844,500 | — | — | 985,100 | 880,700 | 692,700 | |||||||||||||||||||||
Grand Total | 18,400,600 | 16,977,700 | 10,145,700 | 18,970,300 | 2,959,100 | 5,397,900 | 747,100 | 40,900 | 9,145,000 | 5,637,100 | 4,188,200 |
Subscriber Variance Table – September 30, 2013 vs. June 30, 2013 | ||||||||||||||||||||||||||||||||
Homes Passed(1) | Two-way Homes Passed(2) | Customer Relationships(3) | Total RGUs(4) | Video | Internet Subscribers(9) | Telephony Subscribers(10) | ||||||||||||||||||||||||||
Analog Cable Subscribers(5) | Digital Cable Subscribers(6) | DTH Subscribers(7) | MMDS Subscribers(8) | Total Video | ||||||||||||||||||||||||||||
UPC Europe: | ||||||||||||||||||||||||||||||||
The Netherlands(11) | 2,800 | 3,000 | (19,300 | ) | 7,000 | (26,300 | ) | 7,500 | — | — | (18,800 | ) | 11,000 | 14,800 | ||||||||||||||||||
Switzerland(11) | 38,100 | 20,400 | 4,400 | 25,100 | 1,200 | 4,000 | — | — | 5,200 | 11,300 | 8,600 | |||||||||||||||||||||
Austria | 3,900 | 3,900 | 400 | 11,500 | (2,000 | ) | 400 | — | — | (1,600 | ) | 5,700 | 7,400 | |||||||||||||||||||
Ireland | (1,400 | ) | 1,500 | (1,000 | ) | 18,400 | (2,900 | ) | 1,200 | — | (1,800 | ) | (3,500 | ) | 8,700 | 13,200 | ||||||||||||||||
Total Western Europe | 43,400 | 28,800 | (15,500 | ) | 62,000 | (30,000 | ) | 13,100 | — | (1,800 | ) | (18,700 | ) | 36,700 | 44,000 | |||||||||||||||||
Poland | 15,200 | 24,200 | (15,000 | ) | (1,600 | ) | (34,200 | ) | 13,500 | — | — | (20,700 | ) | 8,400 | 10,700 | |||||||||||||||||
Hungary | 4,400 | 4,400 | 6,600 | 29,300 | (9,100 | ) | 11,200 | 7,700 | — | 9,800 | 7,900 | 11,600 | ||||||||||||||||||||
Romania | 6,800 | 65,800 | 6,700 | 29,100 | (15,100 | ) | 13,900 | 7,900 | — | 6,700 | 11,200 | 11,200 | ||||||||||||||||||||
Czech Republic | 5,300 | 8,200 | (4,500 | ) | (4,500 | ) | 6,300 | (7,700 | ) | 1,200 | — | (200 | ) | (900 | ) | (3,400 | ) | |||||||||||||||
Slovakia | 1,000 | 4,400 | (1,300 | ) | (3,100 | ) | (6,400 | ) | 500 | 3,800 | — | (2,100 | ) | — | (1,000 | ) | ||||||||||||||||
Total CEE | 32,700 | 107,000 | (7,500 | ) | 49,200 | (58,500 | ) | 31,400 | 20,600 | — | (6,500 | ) | 26,600 | 29,100 | ||||||||||||||||||
Total UPC Europe | 76,100 | 135,800 | (23,000 | ) | 111,200 | (88,500 | ) | 44,500 | 20,600 | (1,800 | ) | (25,200 | ) | 63,300 | 73,100 | |||||||||||||||||
Chile (VTR) | 18,200 | 22,400 | 10,900 | 29,000 | (7,100 | ) | 19,100 | — | — | 12,000 | 13,600 | 3,400 | ||||||||||||||||||||
Grand Total | 94,300 | 158,200 | (12,100 | ) | 140,200 | (95,600 | ) | 63,600 | 20,600 | (1,800 | ) | (13,200 | ) | 76,900 | 76,500 | |||||||||||||||||
Organic Change Summary: | ||||||||||||||||||||||||||||||||
UPC Europe | 41,100 | 127,100 | (26,400 | ) | 105,600 | (97,700 | ) | 46,400 | 20,600 | (1,800 | ) | (32,500 | ) | 64,300 | 73,800 | |||||||||||||||||
Chile (VTR) | 18,200 | 22,400 | 10,900 | 29,000 | (7,100 | ) | 19,100 | — | — | 12,000 | 13,600 | 3,400 | ||||||||||||||||||||
Total Organic Change | 59,300 | 149,500 | (15,500 | ) | 134,600 | (104,800 | ) | 65,500 | 20,600 | (1,800 | ) | (20,500 | ) | 77,900 | 77,200 | |||||||||||||||||
Q3 2013 Adjustments | ||||||||||||||||||||||||||||||||
Acquisition - Switzerland | 11,900 | 10,800 | 8,100 | 8,100 | 8,100 | — | — | — | 8,100 | — | — | |||||||||||||||||||||
Disposition - The Netherlands | — | — | (500 | ) | (800 | ) | — | — | — | — | — | (500 | ) | (300 | ) | |||||||||||||||||
Switzerland Adjustments | 23,100 | — | (1,000 | ) | (1,700 | ) | — | (800 | ) | — | — | (800 | ) | (500 | ) | (400 | ) | |||||||||||||||
Hungary Adjustments | — | — | (3,200 | ) | — | — | — | — | — | — | — | — | ||||||||||||||||||||
Poland Adjustments | — | (2,100 | ) | — | — | 1,100 | (1,100 | ) | — | — | — | — | — | |||||||||||||||||||
Net Adjustments | 35,000 | 8,700 | 3,400 | 5,600 | 9,200 | (1,900 | ) | — | — | 7,300 | (1,000 | ) | (700 | ) | ||||||||||||||||||
Total Adds (Reductions) | 94,300 | 158,200 | (12,100 | ) | 140,200 | (95,600 | ) | 63,600 | 20,600 | (1,800 | ) | (13,200 | ) | 76,900 | 76,500 |
(1) | Homes Passed are homes, residential multiple dwelling units or commercial units that can be connected to our networks without materially extending the distribution plant, except DTH and Multi-channel Multipoint (“microwave”) Distribution System (“MMDS”) homes. Our Homes Passed counts are based on census data that can change based on either revisions to the data or from new census results. We do not count homes passed for DTH. With respect to MMDS, one MMDS customer is equal to one Home Passed. Due to the fact that we do not own the partner networks (defined below) used in Switzerland and the Netherlands (see note 11) we do not report homes passed for Switzerland's and the Netherlands' partner networks. |
(2) | Two-way Homes Passed are Homes Passed by those sections of our networks that are technologically capable of providing two-way services, including video, internet and telephony services. |
(3) | Customer Relationships are the number of customers who receive at least one of our video, internet or telephony services that we count as Revenue Generating Units (“RGUs”), without regard to which or to how many services they subscribe. To the extent that RGU counts include equivalent billing unit (“EBU”) adjustments, we reflect corresponding adjustments to our Customer Relationship counts. For further information regarding our EBU calculation, see Additional General Notes to Tables below. Customer Relationships generally are counted on a unique premises basis. Accordingly, if an individual receives our services in two premises (e.g., a primary home and a vacation home), that individual generally will count as two Customer Relationships. We exclude mobile customers from Customer Relationships. |
(4) | Revenue Generating Unit is separately an Analog Cable Subscriber, Digital Cable Subscriber, DTH Subscriber, MMDS Subscriber, Internet Subscriber or Telephony Subscriber. A home, residential multiple dwelling unit, or commercial unit may contain one or more RGUs. For example, if a residential customer in our Austrian system subscribed to our digital cable service, telephony service and broadband internet service, the customer would constitute three RGUs. Total RGUs is the sum of Analog Cable, Digital Cable, DTH, MMDS, Internet and Telephony Subscribers. RGUs generally are counted on a unique premises basis such that a given premises does not count as more than one RGU for any given service. On the other hand, if an individual receives one of our services in two premises (e.g. a primary home and a vacation home), that individual will count as two RGUs for that service. Each bundled cable, internet or telephony service is counted as a separate RGU regardless of the nature of any bundling discount or promotion. Non-paying subscribers are counted as subscribers during their free promotional service period. Some of these subscribers may choose to disconnect after their free service period. Services offered without charge on a long-term basis (e.g., VIP subscribers, free service to employees) generally are not counted as RGUs. We do not include subscriptions to mobile services in our externally reported RGU counts. In this regard, our September 30, 2013 RGU counts exclude 19,000, 6,100 and 4,700 postpaid mobile subscribers in Poland, Hungary and the Netherlands, respectively. Our mobile subscriber count represents the number of active subscriber identification module (“SIM”) cards in service. |
(5) | Analog Cable Subscriber is a home, residential multiple dwelling unit or commercial unit that receives our analog cable service over our broadband network. Our Analog Cable Subscriber counts also include subscribers who may use a purchased set-top box or other means to receive our basic digital cable channels without subscribing to any services that would require the payment of recurring monthly fees in addition to the basic analog service fee (“Basic Digital Cable Subscriber”). Our Basic Digital Cable Subscribers are attributable to the fact that our basic digital cable channels are not encrypted in certain portions of our footprint. In Europe, we have approximately 105,800 “lifeline” customers that are counted on a per connection basis, representing the least expensive regulated tier of video cable service, with only a few channels. |
(6) | Digital Cable Subscriber is a home, residential multiple dwelling unit or commercial unit that receives our digital cable service over our broadband network or through a partner network. We count a subscriber with one or more digital converter boxes that receives our digital cable service in one premises as just one subscriber. A Digital Cable Subscriber is not counted as an Analog Cable Subscriber. As we migrate customers from analog to digital cable services, we report a decrease in our Analog Cable Subscribers equal to the increase in our Digital Cable Subscribers. As discussed in further detail in note 5 above, Basic Digital Cable Subscribers are not included in the respective Digital Cable Subscriber counts. Subscribers to digital cable services provided by our operations in Switzerland and the Netherlands over partner networks receive analog cable services from the partner networks as opposed to our operations. |
(7) | DTH Subscriber is a home, residential multiple dwelling unit or commercial unit that receives our video programming broadcast directly via a geosynchronous satellite. |
(8) | MMDS Subscriber is a home, residential multiple dwelling unit or commercial unit that receives our video programming via MMDS. |
(9) | Internet Subscriber is a home, residential multiple dwelling unit or commercial unit that receives internet services over our networks, or that we service through a partner network. Our Internet Subscribers exclude 76,100 digital subscriber line (“DSL”) subscribers within our Austria segment that are not serviced over our networks. Our Internet Subscribers do not include customers that receive services from dial-up connections. In Switzerland, we offer a 2 Mbps internet service to our Analog and Digital Cable Subscribers without an incremental recurring fee. Our Internet Subscribers in Switzerland include 23,000 subscribers who have requested and received a modem that enables the receipt of this 2 Mbps internet service. |
(10) | Telephony Subscriber is a home, residential multiple dwelling unit or commercial unit that receives voice services over our networks, or that we service through a partner network. Telephony Subscribers exclude mobile telephony subscribers. Our Telephony Subscribers exclude 55,300 subscribers within our segment in Austria that are not serviced over our networks. |
(11) | Pursuant to service agreements, Switzerland and, to a much lesser extent, the Netherlands offer digital cable, broadband internet and telephony services over networks owned by third-party cable operators (“partner networks”). A partner network RGU is only recognized if there is a direct billing relationship with the customer. At September 30, 2013, Switzerland's partner networks account for 128,500 Customer Relationships, 252,200 RGUs, 93,500 Digital Cable Subscribers, 92,400 Internet Subscribers, and 66,300 Telephony Subscribers. |