New Street Research - Liberty Global Plc Class C (LBTYK) Liberty Global (Neutral) Q1 24 - The challenge of subscriber momentum

Report

New Street Research

Ben Rickett ...

James Ratzer

EUR 9240.00 For Business Accounts Only

Liberty Global (Neutral) Q1 24 - The challenge of subscriber momentum

After the excitement of the strategic announcements in Q4, this is a quieter quarter with all FY financial guidance re-iterated.

01/05/2024 1 EN

Underlying

Liberty Global Plc Class C

See profile

GB00B8W67B19 NASDAQ Stock Market United States

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Ben Rickett

James Ratzer

Other Reports on these Companies

New Street Research

Liberty Global (Neutral) Q1 24 - The challenge of subscriber momentum

After the excitement of the strategic announcements in Q4, this is a quieter quarter with all FY financial guidance re-iterated. However, some of the issues that concerned shareholders with the Q4 results persist in the Q1 results: weak KPIs at VMO2 and VodafoneZiggo with limited signs of growth on the new UK nexfibre footprint. On a more positive note, Swiss broadband adds recovered to growth for the first time in a year and could help to support momentum into the Q4 demerger

EUR 9240.00

May 2, 2024 May 2, 2024 1 EN

New Street Research

FTTF Conference Summary: Top Ten Takeaways

Our Global Fiber-to-the-Future conference has just wrapped up with over 50 companies worldwide presenting their views on the state-of-play of the fiber market.

EUR 9240.00

March 25, 2024 March 25, 2024 1 EN

Digi Q1 24: Solid results, Portugal launch pushed to H2 24

Digi has reported a solid set of Q1 numbers vs expectations: Both SR and EBITDA growth rates are slower, but remain impressive. A launch in Portugal has been pushed back to H2 (same timing as for Belgium) and no further details were given on the launch particulars. We remain unconvinced that Digi can build NPV positive businesses in either market, but we think it will launch in both, with all the associated costs– indeed, Digi upped capex guidance for 2024 to €650m-€700m from €650m. This drag to FCF is why we have Digi as one of least preferred HY names, albeit the deal with Macquarie for €750...

EUR 9240.00

2h / 19m 2h / 19m 1 EN

Chris Hoare

Chris Hoare

Chinese Telcos Q1 24 review: Sustained topline growth with some margin relief

Chinese telcos sustained another quarter of MSD service revenue growth whilst seeing some relief off margin pressure. Of the three, China Telecom remained the outperformer on both metrics despite some slowdown from Enterprise.

EUR 9240.00

10h / 54m 10h / 54m 1 EN

Jin Yoon

Jin Yoon

SE 1Q24 Results: Improving Margin Outlook

What’s new: SE’s reported 1Q24 results were above consensus and our expectations. E-commerce could remain resilient where Shopee adjusted EBITDA is on track to turn positive in 2H24. We up our PT from USD70 to USD75 on improving margin outlook. Our revised PT of USD75 implies 2.5x FY25E EV/Rev. We maintain our BUY rating. Analysts: Jin Yoon

12h / 12m 12h / 12m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Liberty Global (Neutral) Q1 24 - The challenge of subscriber momentum

Liberty Global (Neutral) Q1 24 - The challenge of subscriber momentum

FTTF Conference Summary: Top Ten Takeaways

Digi Q1 24: Solid results, Portugal launch pushed to H2 24

Chinese Telcos Q1 24 review: Sustained topline growth with some margin relief

SE 1Q24 Results: Improving Margin Outlook

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe