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  "documentTitle": "Liberty Global | Results Presentation Deck | 40 slides",
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  "authorName": "Liberty Global",
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  "presentationDate": "2023-05-01 00:00:00",
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      "text": "Around $1.6B Distributable Cash Flow (5)",
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      "text": "Improved Revenue profile\nLow to Mid-single digit Adj. EBITDA decline\nP&E additions to sales 21% - 23%\nCash distributions to shareholders of €300m - €400m",
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      "text": "Revenue growth between 1-2%\nAdjusted EBITDAaL: broadly stable\nP&E additions to sales: ~26%\nAdj. FCF: ~€250m",
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      "text": "Low-single digit revenue decline\nLow to Mid-single digit Adj. EBITDA decline (incl. CTC)\nOpex and Capex CTC ~CHF50m (~CHF 10m in opex)\nP&E additions to sales (incl. CTC) 15% -17%\nAdj. FCF: CHF320-350m (growth vs 2022)",
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      "text": "Revenue growth\nMid-single digit Adj. EBITDA growth (excl. CTC)\nOpex and Capex CTC ~£150m\nP&E additions of around £2.0B\nCash distributions to shareholders of £1.8 - £2.0B",
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      "text": "(1) Quantitative reconciliations to net earnings/loss (including net earnings/loss growth rates) and cash flow from operating activities for Adj EBITDA, Adjusted EBITDAaL, Adjusted FCF and Distributable CF guidance cannot be provided without unreasonable efforts as we do not forecast (i) certain non-cash charges\nincluding; the components of nonoperating income/expense, depreciation and amortization, and impairment, restructuring and other operating items included in net earnings/loss from continuing operations, nor (ii) specific changes in working capital that impact cash flows from operating activities. The items we do not\nforecast may vary significantly form period to period.\n(2) VMO2 guidance on an IFRS basis. During Q1, VMO2 concluded the accounting treatment of nexfibre resulting in construction revenues being reported on a gross basis. VMO2's guidance of revenue growth excludes the impact of nexfibre construction revenue. VMO2's Adj. EBITDA guidance of mid-single digit growth\nalso excludes construction contribution. IFRS guidance based on transaction adjusted revenue and Adj EBITDA. US GAAP guidance for the VMO2 JV is not provided as this cannot be provided without unreasonable efforts given US GAAP information is not forecast by the JV since they report under IFRS.\n(3) Telenet guidance on an IFRS basis. US GAAP guidance for Telenet is broadly the same as their separate IFRS guidance.\n(4) Non-consolidated 50% owned JVs. Reflects 100% of VMO2 and VodafoneZiggo.\n(5) 2023 Distributable Cash Flow guidance reflects FX rates of EUR/USD 1.07, GBP/USD 1.21 and CHF/USD 1.08.",
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      "kind": "title",
      "text": "2023 GUIDANCE (1): ON TRACK",
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