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weesteev · 20-04-2011, 09:48

Sustainable revenue growth and operating leverage driving strong free cash flow

Revenue growth in all areas; total up 5.7% to £982m
OCF1 up 7.6% to £376m
- Operating income up 58.9% to £111m
FCF2 more than doubled to £100m
- Net cash provided by operating activities up 34.3% to £272m
Good operational performance through quality customergrowth

Quality of customer base continues to improve
- Launch of 30Mb broadband tier has transformed acquisition mix
- 39% of new broadband customers taking 20Mb tier or higher, up from 15% in Q1-10
- Broadband revolution gains pace, with world's fastest cable trial of 1.5Gb
- Premium TV customers increased 22%; HD penetration increased to 41%
- 65,000 pre-registered for next-generation TiVo TV; now available to new customers
- Q1 cable ARPU3 up 2.6% to £46.16

Cable customers up 1.2% in last twelve months with 20,200 net additions in Q1

Mobile contract customers up 22.6% to 1.3m
- Contract customers in cable homes up 19% to 0.8m

Business revenues up 13.7% to £159m
- New contract win with London Borough of Lambeth

Capital Return programme continued
Repurchased 7.2m shares in Q1; 18.8m shares to-date
Plan to retire $550m of debt due 2016 with cash on hand, further reducing debt and interest expense

All good new surely?

20-04-2011, 09:48	#1
weesteev Cable Guru Join Date: Jun 2004 Location: Scotland Age: 42 Services: Virgin Media Gig1 RFOG, TV360, Stream, GoFibre 1Gb Posts: 1,050	Virgin Media Q1 2011 Results... Sustainable revenue growth and operating leverage driving strong free cash flow Revenue growth in all areas; total up 5.7% to £982m OCF1 up 7.6% to £376m - Operating income up 58.9% to £111m FCF2 more than doubled to £100m - Net cash provided by operating activities up 34.3% to £272m Good operational performance through quality customergrowth Quality of customer base continues to improve - Launch of 30Mb broadband tier has transformed acquisition mix - 39% of new broadband customers taking 20Mb tier or higher, up from 15% in Q1-10 - Broadband revolution gains pace, with world's fastest cable trial of 1.5Gb - Premium TV customers increased 22%; HD penetration increased to 41% - 65,000 pre-registered for next-generation TiVo TV; now available to new customers - Q1 cable ARPU3 up 2.6% to £46.16 Cable customers up 1.2% in last twelve months with 20,200 net additions in Q1 Mobile contract customers up 22.6% to 1.3m - Contract customers in cable homes up 19% to 0.8m Business revenues up 13.7% to £159m - New contract win with London Borough of Lambeth Capital Return programme continued Repurchased 7.2m shares in Q1; 18.8m shares to-date Plan to retire $550m of debt due 2016 with cash on hand, further reducing debt and interest expense All good new surely? __________________ Access Network Innovation @ Liberty Global/Virgin Media All comments are my own opinion and not a direct expression of LG/VM.