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-   -   Virgin Media Q1 Results: 2010 (https://www.cableforum.uk/board/showthread.php?t=33664172)

Ben B 19-04-2010 22:07
Virgin Media Q1 Results: 2010
 
Quote:
Virgin Media (NASDAQ:VMED) (LSE:VMED), will be announcing its First Quarter 2010 results on Wednesday, April 28, 2010 at 7am UK time, 2am ET. The company will host a conference call for analysts and investors to discuss these results on April 28, at 1pm UK time, 8am ET.
http://pressoffice.virginmedia.com/p...3290&highlight

Hopefully there will be some exciting new announcements on Wednesday, possibly more HD. We shall have to wait and see :)

EBD3000 20-04-2010 11:44
Re: Virgin Media Q1 Results: 2010
 
Unless the date is wrong thats a week tomorrow.

Ben B 27-04-2010 17:29
Re: Virgin Media Q1 Results: 2010
 
Sorry! I meant next Wednesday at the time of posting.

Anyway the results will be published tomorrow so hopefully we will hear of any new HD channels or possibly more info about TiVO. One can only hope... :D

Ben B 28-04-2010 08:38
Re: Virgin Media Q1 Results: 2010
 
The results are in:

http://pressoffice.virginmedia.com/p...8909&highlight

Digital Fanatic 28-04-2010 09:43
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Ben B (Post 35009325)
Another good quarter :tu:

broadbandking 28-04-2010 10:14
Re: Virgin Media Q1 Results: 2010
 
Looks like another good quarter from VM well done.

Horizon 28-04-2010 11:03
Re: Virgin Media Q1 Results: 2010
 
50K analogue customers will not get digital and get switched off, that's quite a lot!

Ignitionnet 28-04-2010 12:10
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Horizon (Post 35009374)
50K analogue customers will not get digital and get switched off, that's quite a lot!
I wonder which areas those are. Guess they were just too expensive to upgrade.

EDIT: Ah I see. They are legacy MATV customers receiving basic TV channels via cable not VM's own analogue customers. Nothing wrong with switching them off, no indication they aren't going to be digital capable just that VM don't expect to ever be able to convert their present unpaid service to a paid digital one.

The rest of the results are as expected. Increased customer growth due to expansion of network and digital overbuild.

Still 84% of customers take 10Mbit, and of note is that they actually announce they are trialling 20Mbit upstream with the 200Mbit downstream - bonded upstream and a further indication of evolution to a 10:1 ratio of downstream to upstream.

Ignitionnet 28-04-2010 16:24
Re: Virgin Media Q1 Results: 2010
 
One small thing to note in the results:

Quote:
Despite the strong customer performance, the firm still registered wider pre-tax losses of £160m, up from £154m a year ago.

danielf 28-04-2010 16:41
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Ignitionnet (Post 35009511)
One small thing to note in the results:
http://business.timesonline.co.uk/to...cle7110159.ece

Quote:
After pushing back the dates at which is must repay some of its £6.1 billion debt, the company is still spending more than it earns on interest payments. As a result of this, and greater losses on currency hedging, pre-tax losses in the first quarter widened to £160 million from £154 million a year ago.

Digital Fanatic 29-04-2010 01:49
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by danielf (Post 35009513)
The reason they are doing this, is to grow the business by defering some of the debt repayment and investing in the network and expansion, instead of paying off more debt.

Ignitionnet 29-04-2010 11:48
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Digital Fanatic (Post 35009981)
The reason they are doing this, is to grow the business by defering some of the debt repayment and investing in the network and expansion, instead of paying off more debt.
No-one can for a second doubt the financial acumen of the money-men behind VM. They are very competent indeed.

tvtimes 29-04-2010 16:51
Re: Virgin Media Q1 Results: 2010
 
Looks like expanding in the network is paying off with those new network additions, nowhere near as good as Skys growth though.

Digital Fanatic 29-04-2010 17:16
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by tvtimes (Post 35010311)
Looks like expanding in the network is paying off with those new network additions, nowhere near as good as Skys growth though.
VM have half the coverage that Sky do, but out performed Sky in their coverage areas.

VM added over 46,000 new Digital TV customers and Sky added over 62,000.

Chrysalis 29-04-2010 17:30
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Digital Fanatic (Post 35009981)
The reason they are doing this, is to grow the business by defering some of the debt repayment and investing in the network and expansion, instead of paying off more debt.
I dont see evidence of investment round here tho. Ok to be fair there was investment as the area was previously analogue, but the investment seems it was the minimal required just to get a service barely working.

Ignitionnet 29-04-2010 17:31
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Digital Fanatic (Post 35010327)
VM have half the coverage that Sky do, but out performed Sky in their coverage areas.

VM added over 46,000 new Digital TV customers and Sky added over 62,000.
Worth noting though that VM dropped 10,900 analogue customers and added another 25,000 homes to their network. Also all Sky customers pay for their TV while it's anyone's guess how many of VM's 46,000 are paying for it and how many are getting it free either as M or as a straight conversion from analogue to digital so comparing them is perhaps not appropriate.

Sky's results were exceptional this quarter - it takes something exceptional to get a 5% uptick on the share price of a 10bn pound company especially as the rest of the market was jittery over Greece.

Chrysalis 29-04-2010 17:32
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Digital Fanatic (Post 35010327)
VM have half the coverage that Sky do, but out performed Sky in their coverage areas.

VM added over 46,000 new Digital TV customers and Sky added over 62,000.
expected when the package spec like for like is superior on broadband and phone.

seems there is an obsession still with customer numbers tho, where are the profit figures?

Digital Fanatic 29-04-2010 17:48
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Ignitionnet (Post 35010339)
Worth noting though that VM dropped 10,900 analogue customers and added another 25,000 homes to their network. Also all Sky customers pay for their TV while it's anyone's guess how many of VM's 46,000 are paying for it and how many are getting it free either as M or as a straight conversion from analogue to digital so comparing them is perhaps not appropriate.

Sky's results were exceptional this quarter - it takes something exceptional to get a 5% uptick on the share price of a 10bn pound company especially as the rest of the market was jittery over Greece.
Yes, Sky's results were very good too... VM are definately moving in the right direction now though.

tvtimes 30-04-2010 18:56
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Chrysalis (Post 35010336)
I dont see evidence of investment round here tho. Ok to be fair there was investment as the area was previously analogue, but the investment seems it was the minimal required just to get a service barely working.
They can't do everywhere at once.

Chrysalis 01-05-2010 00:53
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by tvtimes (Post 35011301)
They can't do everywhere at once.
yeah just the same places repeatedly?

Digital Fanatic 01-05-2010 14:55
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Chrysalis (Post 35011587)
yeah just the same places repeatedly?
:confused:

tvtimes 01-05-2010 16:09
Re: Virgin Media Q1 Results: 2010
 
That's lost on me too i'm afraid?

Chrysalis 01-05-2010 21:27
Re: Virgin Media Q1 Results: 2010
 
the trials tend to be in the same place, so VM will invest to make sure they pass the trials with good results. That was my reasoning.

Also it wouldnt surprise me to see areas that have QAM16 on the upstream to get docsis2 uploads before QPSK areas. Time will tell to see if I am wrong or not.

pip08456 06-05-2010 22:42
Re: Virgin Media Q1 Results: 2010
 
Quote:
Originally Posted by Digital Fanatic (Post 35009981)
The reason they are doing this, is to grow the business by defering some of the debt repayment and investing in the network and expansion, instead of paying off more debt.
Not only that but the loss figure is quoted as being "pre tax" so no doubt the accountants have claimed the relevant allowances etc and laid off the costs of future investments to return a small profit.

joglynne 12-05-2010 16:31
Re: Virgin Media Q1 Results: 2010
 
I didn't think this merited it's own thread, and as some comments been made about VM finances/debt in this thread, here's a link to the latest VM press release
Quote:
LONDON, May 12, 2010 (BUSINESS WIRE) --Virgin Media (NASDAQ:VMED)(LSE:VMED) today announced it has paid £178 million of corporate debt using cash from its balance sheet.
http://pressoffice.virginmedia.com/p...727&highlight=


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