Liberty Global Capex up 23% to $738 million in Q2

Liberty Global Capex increased 23 percent to $738 million in the second quarter of 2013.

The Capex include property and equipment additions.

The Q2 2013 Capex was 23 percent of revenue against 24 percent in Q2 2012.

In the first half of 2013, Liberty Global invested $1.3 billion in property and equipments against $1.1 billion.

As a percentage of revenue, Capex in both the first quarter and first half of the year declined. The dip, according to Liberty Global, was due principally to lower spend in Germany and Chile, partially offset by increases in our remaining European operations.

Liberty Global increased its use of vendor financing and capital lease arrangements by $91 million for the three-months and $148 million for the six-months.

Liberty global

Revenue in Q2 increased 25 percent to $3.16 billion.

First half revenue rose 17 percent to $5.93 billion.

The growth driver was the inclusion of Virgin Media, which contributed $401 million for the period from June 8 to June 30, 2013.

In addition, revenue growth was driven by a combination of RGU and mobile volume growth and positive foreign exchange movements.

Liberty Global posted net loss of $12 million in Q2 and $13 million in the first half of 2013.

Meanwhile, Liberty Global said it added roughly 600,000 RGUs on an organic basis in the first half of 2013, including 229,000 RGU additions in the seasonally slower second quarter.

It provided services to 24.5 million unique customers with 47.5 million services at the end of Q2. These services consisted of 21.9 million video, 13.9 million broadband internet and 11.8 million telephony subscriptions.

The year-over-year increase of 41 percent or 13.7 million RGUs was largely driven by the acquisition of Virgin Media in June 2013 and by 1.3 million organic RGU additions during the last twelve months.

At June 30, 2013, 13.5 million customers, or 55 percent of our customer base, subscribed to more than one product. Of these, roughly 9.5 million, or 71 percent, took a triple-play bundle.

A principal component of its growth strategy continues to be the upselling of additional products to our large pool of 11.0 million single-play and 4.0 million double-play customers.

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