Virgin Media Inc. ("Virgin Media") is the leading cable operator in the U.K. and Ireland, delivering market leading ultrafast broadband, video and fixed-line telephony services to 5.6 million cable customers and mobile services to 3.0 million mobile subscribers.
Operating and financial highlights:
U.K. performance in 2015 drove Virgin Media additions of 77,000 customers and 202,500 RGUs
Delivered record customer growth of 99,000 in 2015 and 55,000 in Q4 in the U.K.
Strong U.K. performance assisted by Project Lightning investment
158,000 U.K. internet additions during 2015; (69,000 in Q4, highest since Q1 2010)
Record U.K. fixed-line telephone additions of 94,000 in 2015 (56,000 in Q4)
Customer churn improved year-over-year from 14.9% to 14.3% in Q4, with the U.K. customer churn improving from 14.6% to 14.1%
Added 159,000 post-paid mobile subscribers in 2015 (48,000 in Q4)
Pace of Project Lightning build accelerating with over 40% of 2015 new premises delivered in Q4
Overall ARPU and penetration in-line with plan but ahead in infill and new development areas
Expect to expand our U.K. footprint by over 500,000 premises in 2016
Speed leadership supporting RGU growth and our recently implemented price rises
Offering consumers 3x faster broadband speeds than our competitors national services
Our average customer connects 5 devices and downloads >110 GB of data per month
Launched 300 Mbps for small businesses in the U.K., 4x faster than our competitors speeds
Acquired Irish commercial broadcaster, TV3; appointed new managing director
In January 2016, initiated a reorganisation in the U.K. that could result in around 900 redundancies; this will drive efficiency and enable us to reinvest in growth initiatives
Rebased revenue growth of 5% for Q4 (£1,190 million) and 4% in 2015 (£4,618 million)
Includes a third consecutive quarter of improved rebased revenue growth in the U.K. of 6% for Q4 and 4% in 2015
Rebased Segment OCF growth of 7% in Q4 (£538 million) and 6% in 2015 (£2,069 million)
Includes rebased Segment OCF growth of 8% in Q4 and 7% in 2015 in the U.K.
Segment OCF margin improved 110 basis points to 44.8% in 2015, reaching 45.3% in Q4
Operating income of £111 million in Q4 and £378 million for 2015
Property and equipment additions as a percentage of revenue increased by 120 basis points to 22% in 2015 due to higher levels of new build, in line with our guidance
Full Liberty Global results can be found here: http://bit.ly/LGQ415
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Virgin Media Inc. ("Virgin Media") is the leading cable operator in the U.K. and Ireland, delivering market leading ultrafast broadband, video and fixed-line telephony services to 5.6 million cable customers and mobile services to 3.0 million mobile subscribers.
