First Nine Months 2014 Results

  • Continued traction for our leading triple-play bundles ("Whop" and "Whoppa"), resulting in more than 1 million triple-play subscribers at September 30, 2014 (+11% yoy);
  • Sustained focus on providing a great customer experience and continuous product enhancements drove annualized churn across all fixed services to their lowest level for a third quarter since 2009;
  • Full year outlook reconfirmed, having achieved revenue and Adjusted EBITDA growth of 4% and 8%.

Telenet Group Holding NV ("Telenet" or the "Company") (Euronext Brussels: TNET) announces its unaudited consolidated results under International Financial Reporting Standards as adopted by the European Union ("EU IFRS") for the nine months ended September 30, 2014.

HIGHLIGHTS

  • Robust operational results in Q3 2014 with 83,400 net subscriber additions to our advanced fixed services of digital TV, broadband internet and fixed telephony, up 66% sequentially despite a competitive environment;
  • ARPU per customer relationship reached €50.0 in Q3 2014, up 5% yoy, driven by a higher share of both triple-play and digital TV subscribers in our overall mix, partly offset by a higher share of bundle discounts;
  • Further improvement in net mobile subscriber additions (+47,700 in Q3 2014) as a result of our improved product line-up, including "King Supersize", 4G access and targeted handset subsidies;
  • Revenue of €1,271.1 million for 9M 2014, up 4% yoy, impacted by substantially lower revenue from the sale of standalone handsets, lower analog carriage fees and lower usage-related revenue. Improving revenue growth to 5% yoy in Q3 2014, resulting in €432.3 million of revenue;
  • Adjusted EBITDA(1) of €687.4 million for 9M 2014, up 8% yoy, and including a nonrecurring €12.5 million benefit from the settlement of certain operational contingencies. Adjusted EBITDA of €227.3 million in Q3 2014, up 4% yoy, reflecting higher network operating and service costs, including targeted handset subsidies;
  • Accrued capital expenditures(2) of €260.0 million for 9M 2014, representing 20% of revenue. Excluding the renewal of the Belgian football broadcasting rights, accrued capital expenditures reached 18% of revenue;
  • Free Cash Flow(3) more than doubled to €209.3 million for 9M 2014 as a result of solid Adjusted EBITDA growth, an improvement in our working capital and lower cash capital expenditures.

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About Telenet SA

As a provider of entertainment and telecommunication services in Belgium, Telenet group is always looking for the perfect experience in the digital world for its customers. Under the brand name Telenet, the company focuses on offering digital television, high-speed Internet and fixed and mobile telephony services to residential customers in Flanders and Brussels.

Under the brand name BASE, it supplies mobile telephony, internet and television in Belgium. The Telenet Business department serves the business market in Belgium and Luxembourg with connectivity, hosting and security solutions. More than 3,000 employees have one aim in mind: making living and working easier and more pleasant.

Telenet group is part of Telenet Group Holding NV and is a 100% owned subsidiary of Liberty Global. Liberty Global is one of the world’s leading converged video, broadband and communications companies, innovating and empowering people in six countries across Europe to make the most of the digital revolution. For more information, we refer to www.telenet.be

The Telenet newsroom can be found at press.telenet.be

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