and operator, call usual. of you as joining to Thanks, We've got Great. everybody. plenty I today. ground cover, welcome, appreciate the
have in bit as And can to me, engaged will keep So we're on call got execs so the get usual, remarks spend be conversation. to needed a with a who to going I've prepared shorter more our as time try sure Q&A. we today that on number of
kick highlights. I'll So off with it QX some
moment. point view, key results, to into Charlie going X you've combed dig my takeaways no and through of a doubt, in now, our and were here. operating By financial there those is From
year, we've function to cash particular, free that's resetting intensity part levels. flow. tracking of And discussed as we're capital our in a guidance, in First, all
XX% of key it's year-to-date. prior growth you opcos. across With all major rebased P&E you that's and Switzerland if our Again, happening down from years, we've if and don't XX% include OFCF a reported considerably, additions step-up
you for And then has in central up. on asked have this centralized descaling at third, on entire an Several point, coming Charlie T&I it corporate costs, we both clarity are absolutely and of slide our operations. and
The we Telekom Dutch the more the with our costs JV signed the fulfill rise or from is punchline, they incur we've revenue agreements Deutsche and less service those will Vodafone, generating though, and we're agreements as that fall. equal to
largely significant be means there So be will mismatch our the move those our not opcos, moment. in should, TSA support no on be and by to down which impacted in is flat will More as to additional agreements allocated costs, in remaining fact, operations, a we costs to which these that forward.
free And operating naturally expansion as network much significant operation, narrative. declining through Despite of CapEx growth cash investment year-to-date. seen year-over-year largest flow follows Media and continued Project Virgin in we've same Lightning, this our
subscriber growth results Operationally, to picture. and macro Virgin be by continue impacted financial the competition and
I all year I've we that slide foreshadowed on got Virgin think up. a coming long, and
was to on let sell unable recent were flawed it financed over disappointed expecting and the rights have to not you such to offering Switzerland edge. ISS their briefly. were to there. was followed but shareholder, really, would we misinformed our a knew Sunrise just Obviously, sure pushed from deal. a that turn I'm there the largest resistance for and publish It's We me the our developments that all So report. unbelievable, vote secure favorable business we that transaction
until agreement have approval both of you noticed still stock the February. valid end regulatory the are that and So may the purchase
you from infer that can You want. whatever
TV that most Switzerland networks that is important platform the converged becoming gigabit rapidly in question link advanced market. There our a is chain. no and are
I'm pretty and we've already witnessed assets, there of mergers that. to which of in fixed-mobile in Europe, As nearly sure involve all come. cable over you know, billion are $XXX more
Two textbook of customer and of operations that reduced delivering are the convergence strong promise satisfaction and churn, both examples synergies, our in Belgium which of on greater free Holland, are flow. cash
So backbone combinations these backbone broadband. the Europe, is fixed works. that of of in model model, And the the
the that drives is product it our very it the Europe. but Just like bundles in in killer U.S., remains everywhere, competitive
You that. know
are with half we're gigabit that's the now In in and with markets. expanding launching XX data to marketing we broadband the months. for our we'll and giga over U.K., same of Switzerland, Holland all XX% Belgium, for about cities essentially. We country. example, that of as the speak, reach X-gig In And adding broadband country lead RGUs in networks we're launched speed on gigabit our our and
on markets, this simply going course, of our to the liquidity net the And includes factors sitting $XX get core environment structure. finally, sectors spent billion so XX% we our today, about of when there's The from awfully we're in a will in Vodafone deal I'm around And Charlie on a it say That billion $X.X $XX Dutch shares minute plus the billion cash. remains financial few which of liquidity topic, proceeds some were buying that We're obviously opportunities position. same. September. with options Charlie by sheet, of then evaluating $X.X a have spend run this was that other tender. mean I'm through. reduced on capital to the and in billion our privileged an auction questions I balance to feel then back like will focus on we the sure but this, comes core of we'll
analysts I'm The the a points of here next time. bit few in to focus going investors. Media's background a on highlight slide interest results. that's know more provides just We for major Virgin a and
headwinds broadband been identified our content they results, financial the our we and cash in year mixed flow, year-to-date, As the reflect costs. of free network have increased the and at beginning particular taxes like
to and a initiatives revenue at the team and get seen to of discounting factors, fixed-mobile of of and addition, the all Lutz know rollouts in consumer end as underway market into focused growth business, they the would the going that general well the which X-gig during year-to-date. should macro happy on resulted I convergence In and and we've performance digitization, RGU in underpin lower and I'm increased Lutz competition, are that's and take slower stable Q&A, be host well. from and forward. But are time,
positive takeaways free here. as earlier, A cash as flow, XX% few Operating over intensity months I mentioned X through declined. up was capital
September. recent up increase, by Secondly, modestly was customer accruing price ARPU part the driven just in quarter, in third which in started the
usage fact, In each quarter, rental X.X% pay-per-view lower we total while declining as up you year-over-year, was impacted by ARPU, ARPU QX and revenue. voice tell was
about up was it So X.X%.
with as Virgin's foray postpaid quarter to continues converged front, adds U.K. into XXX,XXX net in mobile fixed-mobile pay the off. On we a had great the bundles
Now Vodafone contract we of that to us. significant and to will new and a fund contract the deal access MVNO a with fact, services. that for provides complement This on that, over to savings fees, -- in in of life result us XG MVNO that announced guaranteed millions the hundreds pounds, to fuel good of just is
as and smaller growing, impact lastly, it on. built. to. million on add expect Revenue flow We're customer flow free then is gets quarters. and We net and in X on had closing rolling homes in performance just the you'd And cash X Lightning best negative every are and quarter, operating cash smaller our RGU
comes of I've just expansion, said repeat Now possible speculation to and network our what the when moves there's plenty before. it about I'll market in U.K.
talk. fiber subject anything, you're and, the penetration these as to First And of even only this to opinion, BT of as in with all, opportunity. is it by much U.K., expected slow activity see most expensive. validates networks. our next-gen lot as brands altnet and are in X% That's going yourselves, and a on of broadband But the be of
capital it the We're promise to XX X-gig country talking disrupting regulators, And the months. over the to the that's most or half customers. my story digging to it broadband And Media up in while everyone's is view. politicians busy new and you, premises. makes important matters that raising making today, I And By way, bringing us or streets without happen. Virgin next
XXst Singapore, in Taiwan South well Kong we'd world fifth, the U.K. the Hong speeds. Korea, country, ranked Media and Virgin ahead in right is broadband be behind was ranked U.S. a of If and
in best to for and it's So efficiently do you this And position, plenty of to but we sure market, smart it are economically. and how that I'm us the secret exploit have weapon questions really that. consider to I think on
here, growth, losses projecting adds. cash while And countries operation strong down significant postpaid and in is flat front, to here. flow All delivering let to slide quarter, the free the net they're for So mobile operating margins and and our positive growth. RGU either which last experienced very reporting a some of out We'll provides Switzerland right lot move in JV start by Holland. me similarities you'll see three Belgium, highlights on but each XX-XX or operating pointing up revenue fixed
million the flow for operating was and they obviously, free guiding €XXX including quarter, they're to They a in Telenet now cash out €XXX year. us. large dividend cash to intend the part of that full also announced free that of to to flow shareholders, XX% up million
year. and and out announced to will returned this operating growth has dividend us revenue that to Vodafone positive flow VodafoneZiggo and growth OFCF they and around cash million €XXX
is is The turnaround working. cylinders. hitting plan all Switzerland on And
network an nearing Our NPS of penetration upgraded there building we're year-end. right And fixed new plan, out has all-time advanced straight improve all this expected XX% the on by rolling third set are boxes to is quarter the for interface tops RGU X-gig represent year. TV user high. the with with platform and helped at FMC losses XX%
So few just I'll a thoughts. wrap with
in shown that. you advantage for markets we strategically. extremely and positioned First, convergence more. fixed-mobile well take can to all operationally how financially, these We've Stay are tuned we of of do
times, with volumes this brands, subscriber as has on focused to we're profitable in competitive premium Second, least and current that's going our it year. at impact growth,
hard of is and core scale XX% just cash committed Dutch free of have include fixed to fifth, considerable flow markets is going if year's a and mobile the then liquidity our billion that's create Europe. replicate, financial $XX we but flexibility with million Third, matters long-term JV, and subs, And have operating margins, us. that operating considerable and the yields in to we $X step to finally, cash extraordinary, flow This of growth flow are to value. XX reminder, we you growth. metric cash in to long-term be free billion change fourth course. opportunistically
Charlie. to turn I'll over you, that, With it
