This document provides a summary of Virgin Media's financial results for the third quarter of 2007. It discusses improvements in customer and revenue growth metrics compared to previous quarters. Specifically, it notes record quarterly gross additions and reduced churn. It also summarizes growth in the company's broadband, TV, telephony, mobile, and business services segments. The document concludes with discussions of operating cash flow, revenue, and net debt levels.
Presentation at HP Communications World, Vienna December 12, 2006.
Covers some of HP's real world examples in 2006. Chris Yanda from BBC will presented the experience of using 3G video in participation TV.
Presentation at HP Communications World, Vienna December 12, 2006.
Covers some of HP's real world examples in 2006. Chris Yanda from BBC will presented the experience of using 3G video in participation TV.
NAPCO Security Technologies, Inc. (Nasdaq: NSSC) is one of the world's leading manufacturers of technologically advanced electronic security equipment including intrusion and fire alarm systems, access control and door locking systems. The Company consists of NAPCO plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA.
Breakthroughs in Service Economics09 Opening KeynoteTSIA
Technology solution providers survived the beginning of the global downturn relatively unscathed. In 2008, top line revenues held and bottom line profits, on average, improved for hardware, software, and services providers. However, 2009 is proving a very different experience.
In this opening keynote, CEO JB Wood will discuss how leading service organizations will be breaking down organizational, financial and geographic barriers to maximize services success. He will start with a review of public and proprietary industry data that shows three distinct trends impacting technology providers in 2009. Product revenues and margins are clearly under pressure. With a decrease in product revenues, services revenues are becoming a larger percentage of overall company revenues. These economic forces are placing immense pressures on services organizations to secure revenues and improve profitability. However, there is little or no money to invest in traditional business optimization tactics that drive incremental improvements. Services organizations must identify tactics that create step function improvements in profitability.
In this keynote, Mr. Wood will layout a framework services organizations can apply to identify opportunities in both organizational and offering convergence that break down existing barriers in services delivery. Organizational convergence creates leverage between the historically stove piped services lines within product companies. Offering convergence changes the way customers consume technology solutions. Together, these approaches create new models for developing, selling, and delivering technology services to customers with ever tightening budgets. Finally, Mr. Wood will end with a roadmap for horizon 1, 2, and 3 activities services organizations can pursue to navigate these challenging times.
NAPCO Security Technologies, Inc. (Nasdaq: NSSC) is one of the world's leading manufacturers of technologically advanced electronic security equipment including intrusion and fire alarm systems, access control and door locking systems. The Company consists of NAPCO plus three wholly-owned subsidiaries: Alarm Lock, Continental Instruments, and Marks USA.
Breakthroughs in Service Economics09 Opening KeynoteTSIA
Technology solution providers survived the beginning of the global downturn relatively unscathed. In 2008, top line revenues held and bottom line profits, on average, improved for hardware, software, and services providers. However, 2009 is proving a very different experience.
In this opening keynote, CEO JB Wood will discuss how leading service organizations will be breaking down organizational, financial and geographic barriers to maximize services success. He will start with a review of public and proprietary industry data that shows three distinct trends impacting technology providers in 2009. Product revenues and margins are clearly under pressure. With a decrease in product revenues, services revenues are becoming a larger percentage of overall company revenues. These economic forces are placing immense pressures on services organizations to secure revenues and improve profitability. However, there is little or no money to invest in traditional business optimization tactics that drive incremental improvements. Services organizations must identify tactics that create step function improvements in profitability.
In this keynote, Mr. Wood will layout a framework services organizations can apply to identify opportunities in both organizational and offering convergence that break down existing barriers in services delivery. Organizational convergence creates leverage between the historically stove piped services lines within product companies. Offering convergence changes the way customers consume technology solutions. Together, these approaches create new models for developing, selling, and delivering technology services to customers with ever tightening budgets. Finally, Mr. Wood will end with a roadmap for horizon 1, 2, and 3 activities services organizations can pursue to navigate these challenging times.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. Forward-looking statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995:
Various statements contained in this document constitute “forward-looking statements” as that term is defined under the Private
Securities Litigation Reform Act of 1995. Words like “believe,” “anticipate,” “should,” “intend,” “plan,” “will,” “expects,” “estimates,”
“projects,” “positioned,” “strategy,” and similar expressions identify these forward-looking statements, which involve known and
unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements or industry results to
be materially different from those contemplated, projected, forecasted, estimated or budgeted, whether expressed or implied, by
these forward-looking statements. These factors, among others, include: (1) the ability to compete with a range of other
communications and content providers; (2) the ability to manage customer churn; (3) the effect of technological changes on our
businesses; (4) the continued right to use the Virgin name and logo; (5) the ability to maintain and upgrade our networks in a cost-
effective and timely manner; (6) possible losses in revenues due to systems failures; (7) the ability to provide attractive programming
at a reasonable cost; (8) the reliance on single-source suppliers for some equipment, software and services and third party
distributors of our mobile services; (9) the functionality or market acceptance of new products that we may introduce; (10) the ability
to obtain and retain expected synergies from the merger of our legacy NTL and Telewest businesses and the acquisition of Virgin
Mobile; (11) the rates of success in executing, managing and integrating key acquisitions, including the merger with Telewest and
the acquisition of Virgin Mobile; (12) the ability to achieve business plans for the combined company; (13) the ability to fund debt
service obligations through operating cash flow; (14) the ability to obtain additional financing in the future and react to competitive
and technological changes; (15) the ability to comply with restrictive covenants in our indebtedness agreements; and (16) the extent
to which our future earnings will be sufficient to cover our fixed charges.
These and other factors are discussed in more detail under “Risk Factors” and elsewhere in Virgin Media’s Form 10-K filed with the
SEC on March 1, 2007. We assume no obligation to update our forward-looking statements to reflect actual results, changes in
assumptions or changes in factors affecting these statements.
2
4. Summary
• Significant improvement in customer and RGU growth
• Record quarterly gross additions
• Superior broadband product
• Transformed content offering delivering results
• Telephony turnaround ahead of expectations
• Proactive management of pricing portfolio
• Robust and sustainable business model
4
6. Company transformation update
Integration Re-engineering Growth
• Reduce churn
• Billing system migration • “Fix the Fundamentals”
• Product differentiation
• ERP integration • Fault reduction
• Triple play penetration
• Remove duplication • Customer advocacy program
• Up-sell and cross-sell
• Procurement savings • Restructure network costs
• Mobile cross-sell
• Nearing completion • Mobile integration
Building the platform for growth
6
7. Significant turnaround in customers / RGUs
RGU net adds (‘000s) Triple play %
Customer net adds (‘000s)
13 45.2% 47.0%
135
40.6% 42.9%
37.1% 38.7%
92
61
52
46
(19)
(37) (37)
(47)
(9)
(70)
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
• Strongest customer and RGU net adds quarter since merger
– Improvement in both customer gross adds and churn
– Gross adds up 34% on Q2 driven by quality products, compelling value and
improved sales efficiency
– Churn at 1.7% down from 1.8% in Q2
• Churn showed improving trend throughout the quarter
• Continued strong triple play growth
Customer numbers and RGUs are on-net only
7
8. ARPU
Monthly on-net ARPU
£42.82 £42.75
£42.48
£42.21 £42.16
£41.55
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
• ARPU affected by
– Competitive acquisition offers which have driven strong customer / RGU growth
– Proactively providing value for money to existing high value customers
– Partially offset by higher RGUs per customer
• Careful management of ‘acquisition’ versus ‘installed base’ pricing
8
9. Strong broadband growth
Broadband net adds (000s)
On-net Off-net
7
• Highest quarterly net adds since merger, driven by:
0 0
10
10
18
– Compelling value bundles
8
116
105
– Attractiveness of our 20Mbs service
5
88
78 78
46
– Reputation for quality
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
• Ever increasing Internet usage being driven by
1
Broadband download usage index bandwidth hungry content and applications
600
– Virgin Media best place to meet this demand
>50% CAGR%
500
400
• Planning significant increase speeds in 2008
300
– Increased differentiation versus DSL
200
– Assessing DOCSIS 3.0 options
100
0
2004 2005 2006 2007
Jan 2004=100
1
9
10. Enriched TV content and capability
drives growth
TV net adds (000s) Monthly VOD views (m) V+ base (000s)
39 190
36 23.1 167
18.7
114
22 13.8
20
9.2
7.6 54
6.7 41
8 29
2
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07 Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07
Q2 06 Q3 06 Q4 06 Q1 07 Q2 07 Q3 07
• On-demand content and capability continuing to differentiate from competitors
– Average of 17 views per user, up from 14 in Q2
• Setanta Sports helping XL upgrades and acquisition, and reducing churn
– TV growth increased following Setanta launch
• Sports News channel to launch on 29 November
RGUs are on-net only
10
11. Significant telephony improvement
Telephony net adds (000s)
• Improvement ahead of our expectations
On-net Off-net
0 0
21 15 • Turnaround in performance driven by:
1 10
(22) (1)
– Successful bundling
(6) (55) (57)
(63)
(64)
– Improved point of sale penetration
(4)
– Q2 price rebalancing
– Lower churn
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
11
12. Mobile
Contract net adds (000s) Prepay net adds (000s)
71
98
61
54 53
30
25
(14)
(60)
4
(99)
(116)
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
Q2-06 Q3-06 Q4-06 Q1-07 Q2-07 Q3-07
• Contract affected by trial tariff change on cross sell product
– reverted to original tariff in August and subsequent sales back to Q2 run-rate
• Prepay improvement driven by re-engagement in a more favourable market
– will continue to exercise economic discipline and responsible investment for
profitable growth
• Mobile growth helps to offset fixed to mobile substitution
Note: Q2-06 as reported by Virgin Mobile prior to acquisition
12
13. Content
• Content revenue up 8% on Q2 07
– VMtv revenue up due to subscription and advertising growth
– Situp revenue up 11% on Q3 06
• Strong viewing share and commercial impacts
– Equivalent commercial impacts up 19% YTD
– Living and UKTV Gold continue to be most viewed basic pay channels, ahead of Sky One
• Virgin 1 launched 1 October on all platforms
– Second most viewed multi-channel on launch
– Continued strong viewing performance
– Cross-promoting Virgin Media platform
– Leveraging brand and content to grow advertising revenue
13
14. Business Services strength
Improving retail revenue mix
£160m
£156m
• Revenue mix continues to improve
– Retail data revenue up 16% YoY
28.7%
30.0%
• Business Services targets the ‘sweetspot’ of national
70.0% 71.3%
corporates with managed data services
– Significant market, of which we have <10% share
– Competitors have moved out of our sweetspot
Q2-07 Q3-07
Retail Wholesale
• National reach / network economics gives competitive
Improving data revenue mix
advantage
£160m
£156m
– >50% of all corporates within network coverage
39.1% 38.1%
– Network proximity provides superior cash generation
60.9% 61.9%
Q2-07 Q3-07
Data Voice
14
15. Virgin Media segment opportunity
Characteristics Our positioning Opportunity
• Low growth • Poor content economics LIMITED
Premium TV • Heavy investment • Sky owns >80% market
• Decent growth • VOD to all
Basic pay-TV • Choice / price driven • Setanta in basic TV
• Many subs dissatisfied • “Free TV + VOD” bundled
Free DTV and want more choice with other products
• Cross sell with high VFM,
• VM under-penetrated in
Contract Mobile low SAC
both market and cable base
• Growth driven by price &
Low tier broadband • Lowest unit cost operator
bundles
• Speed & quality important • Network advantage, 50Mb+
High tier broadband • Application driven • Award winning service
BROADBAND IS OUR “HERO” PRODUCT
15
16. Churn reduction is number one priority
Targeting the top 3 causes of churn:
1. Consumer billing system issues due to multiple systems
– Billing system migration to single ICOMS system now largely complete
– Was #1 project for 06/07 - completion frees up resource for other priorities
2. Product reliability and first time resolution
– “Fixing the Fundamentals” program is #1 project for 2008
– Organisational restructure of Network/Access reinforces focus
3. Value for money (“VFM”)
– Acquisition pricing is competitive, evidenced by >1m pa gross adds run-rate
– VFM issue around some existing customers
• Moving from reactive to pro-active retention measures
• Targeting high value and / or high risk customers with discounted upgrades of
high margin products
16
18. Revenue growth
Q2-07 Q3-07
£m £m
Consumer 619 608 Managed ARPU decline
Business 156 160 Retail data growth
Total Cable 775 768
VMtv 26 27 Advertising, subscription
Sit-up 48 53 Higher retail sales
Total Content 74 80
Mobile 146 159 Customer and ARPU growth
Total Revenue 995 1,006
18
19. Q3 OCF
Q3 OCF of £342m up £26m on Q2 due to
• Reduced underlying SG&A
• Certain benefits compared to Q2
– Improved consumer bad debt performance - £7.5m
– Reduced employee incentive expenses - £8.5m
– Favorable settlement of contractual issues - £4.7m
– Reduced senior management SBCE - £7.3m
• Pro-active investment in RGU / customer growth
– Pro-active management of incumbent pricing
– Improved customer VFM driving higher net adds and lower ARPU
– Investment in higher mobile gross connections
– Content initiatives, e.g. Setanta Sports and Sports Portal
Note: OCF is operating income before depreciation, amortization and other charges and is a non-GAAP financial measure. See Appendices
19 for reconciliations of non-GAAP financial measures to their nearest GAAP equivalents
20. Q4 OCF
Factors affecting Q4 versus Q3 OCF:
• Continued pro-active investment in RGU / customer growth
• Continued up-sell and cross-sell to support ARPU
• Investment in mobile growth in Christmas trading period
• Seasonally higher programming investment in Content segment
• Non-repeat of certain Q3 items
Note: OCF is operating income before depreciation, amortization and other charges and is a non-GAAP financial measure. See Appendices
for reconciliations of non-GAAP financial measures to their nearest GAAP equivalents
20
21. Net debt as at 30 September 2007
£m Rate
Senior Credit Facility A 2,476 L+1.75%
Senior Credit Facility B 2,201 L+2.13%
Senior Credit Facility C 300 L+2.75%
4
Senior Notes due 2014 740 9.82%
4
Senior Notes due 2016 270 8.54%
Capital Leases / Other 84
Long Term Debt1 6,071
Cash 364
Net Debt2 5,707
Net Debt / Annualized OCF3 4.2x
Weighted average cost of debt is 8.0%4
1 Net of current portion
2 Net Debt is a non-GAAP financial measure. See above for the reconciliation of net debt to long-term debt (net of current portion)
3 Annualized OCF is Q3-07 OCF multiplied by four
4 Weighted average after taking swaps into account
21
23. Non-GAAP measures
Virgin Media uses non-GAAP financial measures with a view to providing investors with a better understanding of the
operating results and underlying trends to measure past and future performance and liquidity.
Virgin Media evaluates operating performance based on several non-GAAP measures, including (i) operating income before
depreciation, amortization and other charges (OCF), and (ii) net debt, as we believe these are important measures of the
operational strength of our business and our liquidity. Since these measures are not calculated in accordance with GAAP,
they should not be considered as a substitute for operating income (loss) and long-term debt (net of current portion),
respectively.
23
24. Non-GAAP reconciliation
Reconciliation of operating income before depreciation, amortization and
other charges (OCF) to GAAP operating income (loss)
Three months ended
(in £ millions) (unaudited)
Sep 30, Jun 30,
2007 2007
Operating income before depreciation,
amortization and other charges (OCF) 341.5 315.3
Reconciling items
Depreciation and amortization (303.7) (309.2)
Other income (charges) 8.9 (3.1)
Operating income (loss) 46.7 3.0
24