Corporate Actions - The company completed the Spin-off of the Sunrise Entities on November 8, 2024, and the Formula E Acquisition on October 2, 2024, acquiring a controlling interest in Formula E[293][294]. - The company increased its ownership interest in Telenet to 100% following the Telenet Takeover Bid completed in October 2023[294]. - A gain of $242.9 million was recognized from the sale of All3Media in 2024[368]. Customer and Revenue Metrics - As of December 31, 2024, the company served 2,530,900 fixed-line customers and 3,006,800 mobile subscribers, with networks passing 5,808,100 homes[296]. - Telenet's revenue decreased by $4.8 million (0.2%) to $3,084.4 million in 2024, while VM Ireland's revenue decreased by $14.7 million (2.9%) to $491.4 million[321]. - The total consolidated revenue for 2024 was $4,341.9 million, reflecting an increase of $226.1 million (5.5%) compared to $4,115.8 million in 2023[321]. - The total organic decrease in Telenet's revenue was $12.2 million, with a notable decrease in residential mobile revenue[322]. - Total residential revenue decreased by $38.6 million or 1.6% in 2024, with a significant drop in residential fixed revenue attributed to a decrease in the average number of customers[333]. Financial Performance - Earnings from continuing operations for 2024 were $1,869.1 million, a significant recovery from a loss of $3,659.1 million in 2023[318]. - Total consolidated Adjusted EBITDA for 2024 increased to $1,159.8 million, up 0.8% from $1,150.4 million in 2023[325]. - Adjusted EBITDA for 2024 was $4,503.4 million, down from $4,531.3 million in 2023, reflecting a decrease of 0.6%[365]. - The net loss for 2024 was $1,634.7 million, an improvement from a net loss of $3,438.6 million in 2023, indicating a reduction of 52.5%[365]. Operating Expenses - Programming and other direct costs of services rose by $165.2 million or 12.9% in 2024, with an organic increase of $143.9 million or 11.0%[339]. - Other operating expenses (excluding share-based compensation) decreased by $10.9 million or 1.4% in 2024, with a notable reduction in core network and IT-related costs[342]. - Share-based compensation expense increased by $6.5 million or 57.5% in 2024, reflecting higher costs associated with employee compensation[341]. - SG&A expenses (excluding share-based compensation) increased by $62.4 million or 6.7% in 2024 compared to 2023, with an organic increase of $43.2 million or 4.6%[345]. Cash Flow and Debt - Cash and cash equivalents totaled $1,816.3 million as of December 31, 2024, with $694.3 million held by Liberty Global and unrestricted subsidiaries[384]. - Net cash provided by operating activities increased to $1,331.2 million in 2024 from $1,199.3 million in 2023, a change of $131.9 million[404]. - The total amount of share repurchases in 2024 was $678.5 million[393]. - As of December 31, 2024, the outstanding principal amount of consolidated debt and finance lease obligations was $9.2 billion, with $0.9 billion classified as current[400]. Market Competition and Strategy - The company reported significant competition affecting revenue, customer numbers, and average monthly subscription revenue per fixed-line customer or mobile subscriber[305]. - The company aims to achieve organic revenue and customer growth by developing bundled services and upgrading network quality, excluding foreign currency translation effects and acquisition impacts[304]. - The company experienced competition across all markets, adversely impacting customer growth and ARPU[319]. Joint Ventures and Partnerships - The VodafoneZiggo JV reported a revenue of $4,450.5 million for 2024, unchanged from 2023, while Adjusted EBITDA increased to $2,033.9 million from $1,972.5 million, a rise of 3.1%[364]. - The VMO2 JV's revenue for 2024 was $13,649.7 million, with a significant operating income of $1,037.8 million compared to an operating loss of $2,274.5 million in 2023[365]. - VM Ireland expanded its broadband services by partnering with National Broadband Ireland to reach additional households and businesses[71]. Technological Advancements - The company introduced the "Connect Box," a next-generation Intelligent WiFi and telephony gateway, which supports DOCSIS 3.1 technology and WiFi 6, enhancing in-home WiFi service and coverage[45]. - In 2023, the company conducted the world's first test of DOCSIS 4 technology on live network infrastructure, capable of 10 Gbps speeds over HFC Plant[46]. - The Horizon 5 platform, a cloud-based multi-screen entertainment service, is available in all markets and features a user-friendly interface and 4K video content delivery[58]. Environmental and Social Responsibility - The company is committed to reducing its Scope 1, 2, and 3 greenhouse gas emissions in line with science-based targets[33]. - The company emphasizes diversity and inclusion in its workforce, supporting STEM and digital skills education[32].

Core Insights - The report from Liberty Global and EY emphasizes the strategic adoption of AI in the telecommunications sector to achieve significant sustainability gains over the next decade [1][5] Group 1: AI's Impact on Sustainability - AI has the potential to drive operational efficiencies in the telco sector, including optimizing energy use in mobile and fixed networks [2] - The AI sector could consume between 85 and 134 terawatt hours (TWh) of electricity annually by 2025, which is about 0.5% of total global consumption [3] - Telco operators now handle up to 10 times more data than five years ago while maintaining similar energy consumption levels [4] Group 2: Future Scenarios and Predictions - The report outlines four hypothetical outcomes for AI and sustainability, predicting that AI will help minimize additional energy requirements despite a significant increase in data traffic [5] - In the 'Growth' scenario, telecommunications networks could manage 50 times more data traffic while only increasing energy consumption by 10% [6] Group 3: Recommendations for the Telecommunications Sector - The report provides eight key recommendations for the telco sector to achieve sustainability through AI, including conducting assessments of AI's sustainability impact and prioritizing AI-driven network optimization [8] - Recommendations also include accelerating the transition to AI-managed renewable energy sources and implementing AI-enhanced circular economy practices [8]

Financial Performance - Q3 2024 revenue increased 4.4% YoY to $1,935.2 million, with a rebased increase of 2.6%[14] - Q3 2024 Adjusted EBITDA rose 11.8% YoY to $668.3 million, with a rebased increase of 9.4%[14] - Telenet's revenue increased 1.3% YoY to $785.2 million, with Adjusted EBITDA rising 6.2% YoY to $360.9 million[10] - Total revenue for the three months ended September 30, 2024, was $1,935.2 million, representing a 4.4% increase compared to $1,854.5 million in 2023[19] - Adjusted EBITDA for the three months ended September 30, 2024, was $668.3 million, an 11.8% increase from $597.7 million in 2023[20] - Adjusted EBITDA less P&E additions for the total was $282.7 million for the three months ended September 30, 2024, a 21.5% increase from $232.6 million in 2023[21] - Adjusted EBITDA for Sunrise increased by 2.5% to $318.9 million for the three months ended September 30, 2024, compared to $311.0 million in 2023[73] - Total Adjusted EBITDA rose by 11.8% to $668.3 million for the three months ended September 30, 2024, from $597.7 million in the same period last year[73] Customer Metrics - Sunrise achieved 1,300 broadband net adds and 43,200 mobile postpaid net adds in Q3 2024, reflecting improved customer retention[7] - VMO2 reported a return to positive fixed customer net adds of 15,000 in Q3 2024, with a 2.2% YoY growth in fixed ARPU[11] - Organic customer net losses totaled 12,200 for the three months ended September 30, 2024, compared to 39,100 in the same period of 2023[16] - The company experienced a significant decline in customer counts across several markets, with Telenet losing 8,300 customers in the latest quarter[16] - Consolidated Liberty Global reported 8,581,300 total RGUs as of September 30, 2024, with 5,932,500 total mobile subscribers[38] - The organic change summary indicated a total decline of 85,500 RGUs across Liberty Global, with significant losses in telephony subscribers[39] - The VMO2 joint venture reported 12,402,500 total RGUs, with 35,483,900 total mobile subscribers[38] - The company’s homes passed increased to 8,546,000, with fixed-line relationships totaling 4,008,800 as of September 30, 2024[38] Debt and Liquidity - Liberty Global's cash balance was $3.5 billion as of September 30, expected to decrease to ~$2 billion by year-end after a $1.4 billion capital injection into Sunrise[6] - Total principal amount of debt and finance leases stood at $16.0 billion, with an average debt tenor of 4.1 years[22] - Liquidity as of September 30, 2024, was $5.0 billion, including $2.4 billion in cash[22] - Liberty Global has a total liquidity of $5,036.2 million, which includes cash and cash equivalents of $2,356.4 million and unused borrowing capacity of $1,585.3 million[32] - The aggregate unused borrowing capacity was $1,585.3 million, indicating strong financial flexibility[45] - Debt and finance lease obligations before deferred financing costs totaled $16,002.6 million, resulting in a debt to LTM Adjusted EBITDA ratio of 6.4[60] - Adjusted net debt and finance lease obligations were $11,832.9 million, leading to a net debt to LTM Adjusted EBITDA ratio of 4.9[60] Strategic Initiatives - The company plans to realize ~$900 million in total asset proceeds from recent divestments, exceeding its $500 million to $1 billion target range[5] - The spin-off of Sunrise is confirmed for November 12, 2024, with a planned debt paydown of CHF 1.5 billion[4] - Liberty Global's strategic plans include investments in fiber upgrade programs in the U.K. and Belgium[23] - The company is focused on maximizing shareholder value through its Liberty Growth portfolio, which includes capital rotation between investments[23] Shareholder Returns - The share repurchase program for 2024 authorizes the repurchase of up to 10% of outstanding shares as of December 31, 2023[24] Foreign Currency and Other Financial Impacts - The company reported a foreign currency transaction loss of $578.3 million for the three months ended September 30, 2024, compared to a loss of $(664.4) million in the same period of 2023[50] - The company reported a foreign currency transaction loss of $769.0 million and a realized and unrealized loss on derivative instruments of $653.1 million[60] Capital Expenditures - Capital expenditures for the three months ended September 30, 2024, totaled $347.1 million, representing an increase from $327.8 million in the same period of 2023[34] - The total property and equipment additions for the nine months ended September 30, 2024, were $1,125.4 million, compared to $1,107.7 million in the previous year[35] - The company’s capital expenditures as a percentage of revenue stood at 19.9% for the three months ended September 30, 2024[35] Earnings and Losses - Liberty Global's net earnings decreased 271.5% YoY to a loss of $1,410.9 million in Q3 2024[14] - Net earnings for the three months ended September 30, 2024, were ($1,410.9 million), compared to $822.7 million in 2023[17] - Operating income for the three months ended September 30, 2024, was $101.3 million, compared to a loss of $(27.4) million in the same period of 2023[50] - Distributable Cash Flow for the three months ended September 30, 2024, was $91.1 million, down from $309.4 million in the same period of 2023[55] - Share-based compensation expense amounted to $203.6 million, contributing to the overall operating loss of $(62.3) million[60]

Customer Metrics - As of September 30, 2024, the company served 4,008,800 fixed-line customers and 5,932,500 mobile subscribers, with networks passing 8,546,000 homes[213]. - The average number of residential fixed subscription customers decreased by 13.3 thousand for the three-month period, contributing to a decline in subscription revenue[233]. - Residential fixed subscription revenue decreased by $34.1 million during the three months ended September 30, 2024, primarily due to a decline in the average number of customers[254]. Financial Performance - Net earnings for the three months ended September 30, 2024, were $(1,410.9) million, compared to $822.7 million in 2023, reflecting a significant decline[223]. - Adjusted EBITDA for the same period was $668.3 million, an increase from $597.7 million in 2023, representing a growth of 11.4%[223]. - Total revenue for the reportable segments reached $1,935.2 million, up 4.4% from $1,854.5 million in 2023[227]. - Total revenue for the nine months ended September 30, 2024, was $5,754.0 million, an increase of $183.1 million, or 3.3%, from $5,570.9 million in 2023[228]. - The company reported a net loss of $608.7 million for the nine months ended September 30, 2024, compared to a loss of $402.1 million in 2023, driven by increased non-operating expenses[313]. Revenue Segments - Sunrise segment revenue increased to $865.7 million, a rise of 0.7% compared to $859.3 million in 2023[227]. - Telenet segment revenue grew by 10.0% to $785.2 million, up from $775.2 million in the previous year[227]. - Central and Other segment revenue surged by 65.0% to $229.3 million, compared to $164.3 million in 2023[227]. - Total B2B revenue reached $395.0 million for the three months ended September 30, 2024, up from $379.4 million in the same period last year[248]. Cost and Expenses - Programming and other direct costs of services increased by $5.3 million or 0.9% for the three months ended September 30, 2024, and $112.5 million or 6.5% for the nine months ended September 30, 2024, compared to the corresponding periods in 2023[264]. - Other operating expenses (excluding share-based compensation) increased by $5.4 million or 1.8% for the three months ended September 30, 2024, compared to the same period in 2023[269]. - SG&A expenses decreased by $6.8 million or 1.6% for the three months ended September 30, 2024, compared to the same period in 2023[272]. Market Competition - The company experienced competition that adversely impacted revenue, customer numbers, and average revenue per user (ARPU) in all operating markets[214]. - The company experienced competition across all markets, impacting customer growth and average revenue per user (ARPU)[225]. Regulatory and Economic Factors - The company faces risks related to regulatory compliance, government interventions, and potential impacts from geopolitical events[209]. - Inflationary pressures on labor, programming, and other costs may negatively impact operating results, cash flows, and liquidity[215]. Joint Ventures - The VMO2 joint venture reported revenue of $3,512.7 million, a slight increase of 0.3% from $3,503.8 million in 2023[227]. - The VodafoneZiggo joint venture generated $1,131.1 million in revenue, up 5.9% from $1,125.2 million in the previous year[227]. Cash Flow and Liquidity - Cash and cash equivalents totaled $2,356.4 million as of September 30, 2024, with $1,289.0 million (54.7%) denominated in euros and $1,034.3 million (43.9%) in U.S. dollars[320]. - Net cash provided by operating activities for the nine months ended September 30, 2024, was $1,241.3 million, a decrease of $85.4 million compared to $1,326.7 million in 2023[340]. - The company maintained compliance with its debt covenants as of September 30, 2024, and does not anticipate any material adverse impact on liquidity in the next 12 months[336]. Shareholder Actions - The company authorized a share repurchase program for 2024 to repurchase up to 10% of total outstanding shares as of December 31, 2023, with $503.1 million spent on share repurchases during the nine months ended September 30, 2024[329].

Revenue Performance - Q2 2024 revenue was €111.5 million, a decrease of 1.9% year-over-year, primarily due to lower fixed revenue, partially offset by strong B2B wholesale revenue growth of 15.4%[9] - Sunrise Holding reported Q2 2024 revenue of €769.5 million, an increase of 1.1% YoY on a reported basis and 0.5% YoY on a rebased basis[22] - Total revenue for the three months ended June 30, 2024, was €769.5 million, representing a 1.1% increase compared to €761.3 million in 2023[27] - Total revenue for the three months ended June 30, 2024, was CHF 737.5 million, a slight increase of 0.5% compared to CHF 733.6 million in the same period of 2023[33] Customer Metrics - Residential fixed revenue decreased by 3.9% year-over-year to €71.9 million, driven by lower customer volumes[9] - Fixed customer net losses were 4,100 in Q2, influenced by elevated churn rates[7] - The company achieved 32,900 net additions in mobile postpaid subscribers in Q2, reflecting improved performance and reduced churn[20] - Broadband net additions were positive for the second consecutive quarter, with an increase of 5,000 subscribers in Q2[20] - The total number of mobile subscribers for Sunrise Holding reached 2,880,300, with a net increase of 26,100 subscribers in Q2 2024[46] - Sunrise Holding's fixed-line customer relationships totaled 1,640,000, with a total of 3,671,500 RGUs as of June 30, 2024[42] Financial Performance - Q2 net earnings decreased by 32.3% year-over-year to €10.9 million, mainly due to higher interest expenses[9] - Adjusted EBITDA for Q2 was €42.5 million, down 2.1% year-over-year, impacted by revenue decline and increased labor costs[9] - Segment Adjusted EBITDA for Q2 was €271.8 million, up 1.3% YoY on a reported basis and 0.7% YoY on a rebased basis[22] - The net loss for Q2 increased by 12.3% YoY to €75.0 million, primarily due to lower foreign currency gains and increased income tax expense[22] - Segment Adjusted EBITDA for the three months ended June 30, 2024, was €271.8 million, a 1.3% increase from €268.3 million in 2023[28] - The net loss for the three months ended June 30, 2024, was €75.0 million, compared to a net loss of €66.8 million in 2023[28] Debt and Liquidity - At June 30, 2024, the ratio of Net Senior Debt to Annualized EBITDA was 5.28x, reflecting compliance with restrictive covenants[9] - The company had €100.0 million of undrawn commitments available as of June 30, 2024, indicating potential for future borrowing capacity[9] - At June 30, 2024, the company had €707.0 million of undrawn commitments available, indicating strong liquidity[22] - The ratio of Net Senior Debt to Annualized EBITDA was 4.36x, reflecting the company's leverage position[22] - Total third-party debt and finance lease obligations as of June 30, 2024, amounted to €6,005.9 million, an increase from €5,947.7 million as of March 31, 2024[30] - Total third-party net debt increased to €5,599.4 million from €5,532.2 million in the previous quarter[32] Capital Expenditures - Property and equipment additions for the three months ended June 30, 2024, totaled €131.6 million, up from €114.6 million in 2023, representing a 14.0% increase[29] - The total capital expenditures for the six months ended June 30, 2024, were €243.1 million, compared to €200.2 million in 2023[29] - Property and equipment additions as a percentage of revenue for the three months ended June 30, 2024, was 17.1%, up from 15.1% in 2023[29] Strategic Initiatives - The fiber upgrade program resulted in nearly 40% of premises upgraded to full fiber by the end of Q2 2024[5] - Sunrise plans to more than double the speed on its HFC network from 1 Gig to 2.5 Gig starting in August 2024[20] - The company plans to upgrade its fiber network in Virgin Media Ireland, which is expected to enhance broadband speed and service offerings[35] Performance Metrics - Adjusted EBITDA is a key performance measure, reflecting net earnings before various expenses, providing a transparent view of recurring operating performance[54] - Average Revenue Per Unit (ARPU) for mobile subscribers is calculated by dividing mobile subscription revenue by the average number of mobile subscribers for the period[53] - Customer churn is calculated as the number of disconnects over the preceding 12 months divided by the average number of customer relationships[56] - The company defines Adjusted Free Cash Flow (Adjusted FCF) as net cash from operating activities, adjusted for capital expenditures and vendor financing[52] - Fixed-Mobile Convergence (FMC) penetration is measured by the number of customers subscribing to both fixed broadband and postpaid mobile services[58]

Customer Base and Market Competition - As of June 30, 2024, the company served 4,017,500 fixed-line customers and 5,906,000 mobile subscribers, with networks passing 8,573,400 homes[207]. - The company is experiencing competition across all markets, adversely affecting revenue and average monthly subscription revenue per customer[208]. - The company’s ability to maintain or increase subscriptions and average revenue per household is critical for future performance[203]. - The average number of fixed-line customers for Sunrise decreased, contributing to a decline in residential fixed subscription revenue by $6.2 million in Q2 2024[220]. - The company experienced competition across all markets, adversely impacting customer growth and average revenue per user (ARPU)[217]. Financial Performance - Net earnings for Q2 2024 were $275.2 million, a significant improvement from a loss of $511.3 million in Q2 2023[216]. - Total revenue for Q2 2024 increased to $1,873.7 million, up 1.4% from $1,848.0 million in Q2 2023[219]. - The total revenue for the six months ended June 30, 2024, was $3,818.8 million, reflecting an increase of 2.8% from $3,716.4 million in the same period of 2023[219]. - Adjusted EBITDA for the six months ended June 30, 2024, was $1,186.1 million, compared to $1,225.9 million for the same period in 2023, reflecting a decrease of 3.2%[216]. - The company incurred a net loss of $15.4 million for the three months ended June 30, 2024, compared to a net loss of $127.5 million for the same period in 2023[273]. Revenue Breakdown - The company reported that 58.7% of its revenue during the three months ended June 30, 2024, was derived from subsidiaries with functional currencies in euros, and 43.5% from Swiss francs[211]. - Sunrise's total revenue for Q2 2024 was $815.8 million, a slight decrease of 0.4% compared to $816.2 million in Q2 2023[219]. - Telenet's revenue for Q2 2024 decreased by $11.9 million, or 1.6%, to $755.1 million from $767.0 million in Q2 2023[219]. - The VMO2 joint venture reported revenue of $3,375.4 million for Q2 2024, a decrease of $16.1 million, or 0.5%, from Q2 2023[219]. - Total residential fixed revenue for VM Ireland decreased by $18.7 million (2.5%) to $728.1 million in the three months ended June 30, 2024[231]. Cost and Expense Management - Inflationary pressures remain elevated, impacting labor, programming, and other costs, which could negatively affect operating results and cash flows[209]. - Programming and other direct costs of services increased by $107.2 million or 9.3% during the six months ended June 30, 2024, compared to the same period in 2023, with an organic increase of $95.3 million or 8.2%[246]. - Other operating expenses (excluding share-based compensation) decreased by $7.2 million or 2.4% for the three months ended June 30, 2024, and by $3.3 million or 0.6% for the six months ended June 30, 2024, compared to the same periods in 2023[249]. - SG&A expenses (excluding share-based compensation) increased by $23.8 million or 6.5% for the three months ended June 30, 2024, and by $38.3 million or 5.2% for the six months ended June 30, 2024, compared to the same periods in 2023[254]. - Depreciation and amortization expense decreased by $32.6 million or 5.7% for the three months ended June 30, 2024, and by $93.0 million or 8.5% for the six months ended June 30, 2024, compared to the same periods in 2023[257]. Shareholder Returns and Liquidity - The company repurchased shares totaling $337.9 million during the six months ended June 30, 2024, under its authorized share repurchase program[303]. - Total cash and cash equivalents as of June 30, 2024, amounted to $2,011.3 million, with $977.0 million held by Liberty Global and unrestricted subsidiaries[294]. - The liquidity available at the corporate level was $2,011.3 million, which includes cash and cash equivalents and investments held under SMAs[297]. - The company anticipates significant liquidity requirements over the next 12 to 24 months due to various commitments, including programming and operating costs[305]. - The company does not anticipate any instances of non-compliance with debt covenants that would materially impact liquidity in the next 12 months[309]. Foreign Exchange and Impairment - Changes in foreign currency exchange rates significantly impact reported operating results, highlighting the importance of managing FX risks[211]. - Foreign currency transaction gains for the three months ended June 30, 2024, amounted to $228.9 million, compared to $56.4 million for the same period in 2023[268]. - The company recognized impairment, restructuring, and other operating items of $4.7 million and $38.2 million for the three and six months ended June 30, 2024, respectively, compared to $3.9 million and $20.3 million for the same periods in 2023[258]. - The company experienced realized and unrealized losses due to changes in fair values of certain investments totaling $(30.1) million for the three months ended June 30, 2024, compared to $(410.8) million for the same period in 2023[270]. - Realized and unrealized gains on derivative instruments totaled $68.5 million for the three months ended June 30, 2024, compared to $51.1 million for the same period in 2023[265].

Revenue Performance - Q1 2024 revenue of €113.3 million decreased 1.2% YoY, with lower fixed and handset revenues partially offset by growth in programming and mobile subscription revenue[9] - Sunrise achieved revenue of €797.9 million in Q1 2024, representing a 4.4% increase YoY on a reported basis and a 0.1% decrease on a rebased basis[22] - Total revenue for the three months ended March 31, 2024, was CHF 746.8 million, a slight decrease of 0.04% compared to CHF 747.1 million for the same period in 2023[33] - B2B segment revenue increased by 4.8% year-over-year, reaching CHF 147.7 million for the three months ended March 31, 2024[33] Earnings and Adjusted EBITDA - Q1 net earnings increased 257.1% YoY to €5.5 million, driven by higher realized and unrealized gains on derivative instruments[9] - Q1 Adjusted EBITDA of €36.8 million decreased 4.9% YoY, impacted by revenue decrease and costs associated with off-net business[9] - Segment Adjusted EBITDA for Q1 was €261.4 million, up 4.7% YoY on a reported basis and 0.2% YoY on a rebased basis[22] - Segment Adjusted EBITDA for the three months ended March 31, 2024, was CHF 244.3 million, a 0.4% increase from CHF 243.3 million in the same period of 2023[33] Customer Metrics - Fixed customer net losses improved sequentially to 1,300 in Q1, driven by higher customer additions[7] - Broadband net adds were 6,200 in Q1 2024, supported by customer loyalty initiatives and trading momentum in flanker brands[20] - Mobile postpaid continued to show momentum with 26,000 net adds in Q1 2024[20] - The total number of customer relationships for Sunrise Holding was 1,642,600 as of March 31, 2024, with a net decrease of 2,600 in Q1 2024[41] Capital Expenditures and Investments - Q1 property and equipment additions of €36.3 million were up 17.5% YoY, reflecting increased investment in fiber upgrade and wholesale programs[9] - Property and equipment additions were 17.5% of revenue in Q1 2024, compared to 18.4% in the prior year[22] Debt and Financial Position - At March 31, 2024, the ratio of Net Senior Debt to Annualized EBITDA was 5.23x, reflecting compliance with restrictive covenants[9] - Total third-party debt and finance lease obligations amounted to €5,947.7 million as of March 31, 2024, compared to €5,896.6 million as of December 31, 2023, reflecting an increase of €51.1 million[32] - The total covenant amount of third-party net debt is €5,532.2 million as of March 31, 2024, down from €5,823.5 million as of December 31, 2023, indicating a decrease of €291.3 million[32] Strategic Initiatives - The company plans to implement price increases and launch new products and services as part of its growth strategy[34] - Sunrise launched new offerings including a "Workplace as a Service" solution and enhanced cybersecurity services for business customers[20] - The anticipated spin-off of Sunrise from Liberty Global is expected to provide additional strategic opportunities and benefits[34] Subscriber Metrics - Sunrise Holding's total mobile subscribers stood at 2,854,200 as of March 31, 2024, with an organic increase of 17,900 subscribers in Q1 2024[41] - In Q1 2024, Sunrise Holding experienced a net organic increase of 17,900 total mobile subscribers, with a decrease of 8,100 prepaid subscribers and an increase of 26,000 postpaid subscribers compared to Q4 2023[45] Average Revenue Per User (ARPU) - The average monthly ARPU for Sunrise in Q1 was CHF 62.67, a decrease of 1.0% YoY[20] - The average revenue per mobile subscriber (ARPU) is calculated by dividing mobile subscription revenue by the average number of mobile subscribers for the period[52]

OR 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, 2024 ☐ 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) (State or other jurisdiction of incorporation or organizat ...

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 incorporatio ...

Liberty Global plc (NASDAQ:LBTYA) Q3 2023 Results Conference Call November 1, 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 Enrique Rodriguez - EVP & CTO Conference Call Participants Robert Grindle - Deutsche Bank Polo Tang - UBS James Ratzer - New Street Research Ulrich Rath ...