First Quarter 2013 Results

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 three months ended March 31, 2013.

HIGHLIGHTS

  • Revenue of €405.6 million, up 11% yoy driven by a growing contribution from our mobile operations and continued RGU growth in fixed services;
  • Continued traction for our "King" and "Kong" mobile rate plans with 103,400 net mobile postpaid subscribers added in Q1 2013. Our mobile subscriber base more than doubled yoy to 625,000 at the end of March 2013;
  • Solid uptake for our premium fixed products and bundles in Q1 2013 with 21,500 net new subscribers for broadband internet, 19,000 for fixed telephony and 26,000 for digital TV with stable conversion rate yoy;
  • Stable net loss of basic cable TV subscribers compared to Q4 2012 at 11,400, despite increased competition;
  • Adjusted EBITDA(1) of €201.5 million, up 5% yoy, impacted by seasonally higher costs associated with handset sales and subsidies. Margin of 49.7% was up 190 basis points sequentially, driven by lower marketing expenses, overall control of our overhead expenses and favorable impact from certain nonrecurring benefits;
  • Accrued capital expenditures(2) of €95.8 million, or 24% of revenue, impacted by extension of Premier League football broadcasting rights. Excluding capitalized football rights, accrued capital expenditures remained stable yoy on lower digital TV migrations and increased efficiencies in our customer installation processes;
  • Negative Free Cash Flow(3) of €10.0 million, impacted by first semi-annual cash interest payment on the €700.0 million of Senior Secured Fixed Rate Notes issued in August 2012 and a negative trend in our working capital, which we anticipate to reverse throughout the rest of the year;
  • On April 24, 2013, shareholders approved the proposed extraordinary (gross) dividend of €7.90 per share. Payment scheduled for May 8, 2013 with stock trading ex-dividend as of May 3, 2013.

Press Release

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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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