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Liberty Global Announces Intention to Spin-Off 100% of Sunrise to Shareholders
Businesswire· 2024-02-16 13:31
Spin-off Announcement - Liberty Global announces its intention to spin-off 100% of Sunrise to its shareholders, aiming to maximize shareholder value and allow shareholders to participate in the future growth of both Sunrise and Liberty Global [1] - The spin-off will leverage Sunrise's potential as a locally listed FMC challenger, building on the successful integration of Sunrise and UPC since 2020 [1] - The operational business will not be affected by the spin-off, ensuring continuity for customers, employees, suppliers, and other stakeholders [1] Strategic Rationale - The spin-off aligns with Liberty Global's strategy of unlocking value by allowing shareholders to directly participate in Sunrise's future performance [2] - Sunrise will be listed with a strong capital structure, supported by its future cash generation potential, which will underpin its attractive equity story and scope for dividends [2] - The spin-off aims to broaden and deepen the investor base by appealing to local Swiss/European investors and index/passive demand for Sunrise [5] Sunrise Investment Highlights - Sunrise has 100% exposure to the attractive Swiss telecom market, characterized by favorable macro fundamentals, a stable three-player structure, and a supportive regulatory framework [3] - It is the clear number two operator in Switzerland with scaled positions across fixed, mobile, and converged products, and boasts the best 5G coverage and next-generation fixed network [3] - Sunrise benefits from strong cash generation, a delevered balance sheet, and a long-term fixed-rate debt profile with an average maturity of 5 years and an average cost of debt of ~3% [3] - The company plans to offer an attractive shareholder remuneration framework, supported by its high cash-generating asset and experienced management team [3] Financial Guidance and Listing Details - Sunrise reported a strong Q4 2023 performance with a return to revenue and adjusted EBITDA growth, and provided financial guidance for 2024: stable revenue, stable to low-single-digit adjusted EBITDA growth, and adjusted FCF range of CHF360-400m [4] - The listing of Sunrise on the SIX Swiss Exchange is planned for 2H24, supported by up to CHF1.5B ($1.7B) of debt reduction through FCF generation, debt optimization, and Liberty Global's corporate liquidity [3] Liberty Global's Post-Spin-off Portfolio - Following the spin-off, Liberty Global will retain its consolidated interests in Telenet, Virgin Media Ireland, and its joint venture stakes in Virgin Media-O2 and VodafoneZiggo, along with its Ventures portfolio and significant remaining cash balance [4] Industry Context - Liberty Global is a world leader in converged broadband, video, and mobile communications services, delivering next-generation products through advanced fiber and 5G networks, with over 85 million connections across Europe [6] - The company's consolidated businesses generate annual revenue of more than $7 billion, while its joint ventures (VMO2 and VodafoneZiggo) generate combined annual revenue of more than $18 billion [7] - Liberty Global Ventures has a portfolio of more than 75 companies and funds across content, technology, and infrastructure industries, including stakes in ITV, Televisa Univision, Plume, AtlasEdge, and the Formula E racing series [7]
Liberty .(LBTYA) - 2023 Q4 - Annual Report
2024-02-15 21:13
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35961 Liberty Global Ltd. (Exact name of Registrant as specified in its charter) Bermuda 98-1750381 (State or other jurisdiction of incorporation ...
Liberty Global Schedules Investor Call for FY 2023 Results and Strategy Update
Businesswire· 2024-01-31 14:00
DENVER, Colorado--(BUSINESS WIRE)--Liberty Global Ltd. (“Liberty Global” or the “Company”) (NASDAQ: LBTYA, LBTYB and LBTYK) today announced plans to release its full-year 2023 results on Thursday, February 15, 2024. You are invited to join in its Investor Call, which will begin the following day at 09:00 a.m. (Eastern Time) on Friday, February 16, 2024. During the expanded 90 minute call, management will discuss its Q4 and FY 2023 results and provide a strategic update on value creation and capital allocati ...
Liberty Global: European Telecoms Assets On Sale
Seeking Alpha· 2024-01-24 05:11
TOLGA AKMEN/AFP via Getty Images Despite rebounding sharply over the past few weeks, shares of Liberty Global (NASDAQ:LBTYA) (NASDAQ:LBTYK) (NASDAQ:LBTYB) have had a pretty lackluster 12 months, losing around 10% of their value and underperforming U.S. telecoms (IYZ) by a decent margin in that time. Source: Seeking Alpha Liberty's European telecoms businesses have faced a tough operating environment recently, with earnings coming under pressure from cost inflation and declining fixed subscribers. Liberty is ...
Liberty .(LBTYA) - 2023 Q3 - Quarterly Report
2023-10-30 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35961 Liberty Global plc (Exact name of Registrant as specified in its charter) England and Wales 98-1112770 (State or other jurisdicti ...
Liberty .(LBTYA) - 2023 Q2 - Earnings Call Transcript
2023-07-25 18:47
Liberty Global plc (NASDAQ:LBTYA) Q2 2023 Earnings Conference Call July 25, 2023 9:00 AM ET Company Participants Mike Fries - Chief Executive Officer Charlie Bracken - Executive Vice President and Chief Financial Officer Lutz Schüler - Chief Executive Officer, Virgin Media André Krause - Chief Executive Officer, Sunrise Ritchy Drost - CFO of VodafoneZiggo Conference Call Participants Robert Grindle - Deutsche Bank Carl Murdock-Smith - Berenberg Ulrich Rathe - Societe General Yemi Falana - Goldman Sachs Polo ...
Liberty .(LBTYA) - 2023 Q2 - Quarterly Report
2023-07-23 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35961 Liberty Global plc (Exact name of Registrant as specified in its charter) England and Wales 98-1112770 (State or other jurisdiction of ...
Liberty .(LBTYA) - 2023 Q1 - Earnings Call Presentation
2023-05-10 17:13
LIBERTY GLOBAL PLC INVESTOR CALL Q1 2023 May 10th, 2023 "SAFE HARBOR" Forward-Looking Statements + Disclaimer 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to our strategies, future growth prospects and opportunities; expectations regarding our and our businesses' financial performance, including revenue, Rebased Revenue, EBITDA, Adjusted EBITDA, Adjusted Free Cash Flow and Distributable C ...
Liberty .(LBTYA) - 2023 Q1 - Earnings Call Transcript
2023-05-10 17:13
Liberty Global plc (NASDAQ:LBTYA) Q1 2023 Earnings Conference Call May 10, 2023 9:00 AM ET Company Participants Mike Fries - Chief Executive Officer Charlie Bracken - Executive Vice President and Chief Financial Officer Jeroen Hoencamp - Chief Executive Officer, VodafoneZiggo Lutz Schüler - Chief Executive Officer, Virgin Media André Krause - Chief Executive Officer, Sunrise Conference Call Participants Robert Grindle - Deutsche Bank James Ratcliffe - Evercore ISI Ulrich Rathe - Societe Generale Polo Tang - ...
Liberty .(LBTYA) - 2023 Q1 - Quarterly Report
2023-05-08 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35961 Liberty Global plc (Exact name of Registrant as specified in its charter) England and Wales 98-1112770 (State or other jurisdiction o ...