Announcement • Dec 13
Telenet Group Holding NV to Report Q4, 2024 Results on Feb 18, 2025 Telenet Group Holding NV announced that they will report Q4, 2024 results at 10:15 PM, Central European Standard Time on Feb 18, 2025 Announcement • Sep 21
Telenet Group Holding NV to Report Q3, 2024 Results on Oct 29, 2024 Telenet Group Holding NV announced that they will report Q3, 2024 results on Oct 29, 2024 Announcement • Jun 20
Telenet Group Holding NV to Report Q2, 2024 Results on Jul 25, 2024 Telenet Group Holding NV announced that they will report Q2, 2024 results at 10:15 AM, Central European Standard Time on Jul 25, 2024 Announcement • Apr 11
Telenet Group Holding NV to Report Q1, 2024 Results on May 01, 2024 Telenet Group Holding NV announced that they will report Q1, 2024 results on May 01, 2024 Announcement • Mar 06
Telenet Group Holding NV to Report Fiscal Year 2023 Final Results on Mar 22, 2024 Telenet Group Holding NV announced that they will report fiscal year 2023 final results on Mar 22, 2024 Announcement • Feb 02
Telenet Group Holding NV to Report Fiscal Year 2023 Results on Feb 15, 2024 Telenet Group Holding NV announced that they will report fiscal year 2023 results at 10:00 PM, Central European Standard Time on Feb 15, 2024 Announcement • Oct 17
Telenet's Shares Delisted from Euronext Brussels at Close of Trade on 13 October 2023 On October 16, 2023, Liberty Global plc (Liberty Global) announced that, during the simplified squeeze-out period which opened on 22 September 2023 and closed on 13 October 2023 (the Simplified Squeeze-Out Period) of its voluntary public takeover bid for all the shares of Telenet Group Holding NV (Telenet) (the Offer) by its indirect wholly-owned subsidiary, Liberty Global Belgium Holding B.V. (the Offeror), it received acceptances for 1,156,941 Telenet shares. On 13 October 2023, Telenet shares were delisted from Euronext Brussels at close of trade. New Risk • Jul 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.9% Last year net profit margin: 38% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Shares are highly illiquid. Negative equity (-€625m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.9% net profit margin). Reported Earnings • Jul 27
Second quarter 2023 earnings released: €0.26 loss per share (vs €5.84 profit in 2Q 2022) Second quarter 2023 results: €0.26 loss per share (down from €5.84 profit in 2Q 2022). Revenue: €704.1m (up 8.9% from 2Q 2022). Net loss: €28.1m (down 104% from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 26
Upcoming dividend of €0.70 per share at 4.7% yield Eligible shareholders must have bought the stock before 03 May 2023. Payment date: 05 May 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of British dividend payers (5.8%). Higher than average of industry peers (3.1%). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: €9.19 (vs €3.60 in FY 2021) Full year 2022 results: EPS: €9.19 (up from €3.60 in FY 2021). Revenue: €2.67b (up 2.7% from FY 2021). Net income: €997.6m (up 153% from FY 2021). Profit margin: 37% (up from 15% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 5.8% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 21
Investor sentiment improves as stock rises 47% After last week's 47% share price gain to €21.12, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 19x in the Media industry in the United Kingdom. Total loss to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €8.79 per share. Reported Earnings • Feb 18
Full year 2022 earnings released: EPS: €9.19 (vs €3.60 in FY 2021) Full year 2022 results: EPS: €9.19 (up from €3.60 in FY 2021). Revenue: €2.67b (up 2.7% from FY 2021). Net income: €997.6m (up 153% from FY 2021). Profit margin: 37% (up from 15% in FY 2021). Revenue is forecast to stay flat during the next 3 years compared to a 6.4% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 04
Second quarter 2022 earnings released: EPS: €5.84 (vs €0.91 in 2Q 2021) Second quarter 2022 results: EPS: €5.84 (up from €0.91 in 2Q 2021). Revenue: €646.8m (flat on 2Q 2021). Net income: €633.3m (up €534.0m from 2Q 2021). Profit margin: 98% (up from 16% in 2Q 2021). Revenue is forecast to stay flat during the next 3 years compared to a 6.8% growth forecast for the Media industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 30
Second quarter 2022 earnings released: EPS: €5.84 (vs €0.91 in 2Q 2021) Second quarter 2022 results: EPS: €5.84 (up from €0.91 in 2Q 2021). Revenue: €646.8m (flat on 2Q 2021). Net income: €633.3m (up €534.0m from 2Q 2021). Profit margin: 98% (up from 16% in 2Q 2021). Over the next year, revenue is forecast to stay flat compared to a 9.9% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €16.09, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 20x in the Media industry in the United Kingdom. Total loss to shareholders of 59% over the past three years. Board Change • May 31
High number of new directors Independent Director Dirk Van den Berghe was the last director to join the board, commencing their role in 2022. Board Change • May 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 4 highly experienced directors. Non Independent Director Enrique Rodriguez was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. Non Independent Director Enrique Rodriguez was the last director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: €1.48 (vs €1.03 in 1Q 2021) First quarter 2022 results: EPS: €1.48 (up from €1.03 in 1Q 2021). Revenue: €644.8m (flat on 1Q 2021). Net income: €160.4m (up 42% from 1Q 2021). Profit margin: 25% (up from 17% in 1Q 2021). Over the next year, revenue is forecast to grow 1.2%, compared to a 11% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 28
Upcoming dividend of €0.96 per share Eligible shareholders must have bought the stock before 02 May 2022. Payment date: 04 May 2022. Payout ratio is on the higher end at 76%, however this is supported by cash flows. Trailing yield: 9.4%. Within top quartile of British dividend payers (4.7%). Higher than average of industry peers (2.7%). Reported Earnings • Feb 11
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: €2.60b (flat on FY 2020). Net income: €394.0m (up 16% from FY 2020). Profit margin: 15% (up from 13% in FY 2020). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 12% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 29
Upcoming dividend of €0.96 per share Eligible shareholders must have bought the stock before 06 December 2021. Payment date: 08 December 2021. Trailing yield: 8.8%. Within top quartile of British dividend payers (4.1%). Higher than average of industry peers (2.0%). Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS €0.82 (vs €1.04 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: €640.6m (flat on 3Q 2020). Net income: €89.9m (down 21% from 3Q 2020). Profit margin: 14% (down from 18% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 29
Second quarter 2021 earnings released: EPS €0.91 (vs €0.29 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €642.4m (up 3.7% from 2Q 2020). Net income: €99.3m (up 211% from 2Q 2020). Profit margin: 16% (up from 5.2% in 2Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 31
Second quarter 2021 earnings released: EPS €0.91 (vs €0.29 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €642.4m (up 3.7% from 2Q 2020). Net income: €99.3m (up 211% from 2Q 2020). Profit margin: 16% (up from 5.2% in 2Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • May 02
First quarter 2021 earnings released: EPS €1.03 (vs €1.39 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €645.9m (down 1.1% from 1Q 2020). Net income: €112.7m (down 27% from 1Q 2020). Profit margin: 17% (down from 24% in 1Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 26
Upcoming dividend of €0.96 per share Eligible shareholders must have bought the stock before 03 May 2021. Payment date: 05 May 2021. Trailing yield: 7.8%. Within top quartile of British dividend payers (4.1%). Higher than average of industry peers (2.2%). Reported Earnings • Mar 27
Full year 2020 earnings released: EPS €3.10 (vs €2.13 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €2.58b (flat on FY 2019). Net income: €338.9m (up 45% from FY 2019). Profit margin: 13% (up from 9.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 25
New 90-day low: €33.88 The company is down 3.0% from its price of €34.92 on 26 November 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 13% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €40.83 per share. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS €3.10 (vs €2.13 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €2.58b (flat on FY 2019). Net income: €338.9m (up 45% from FY 2019). Profit margin: 13% (up from 9.1% in FY 2019). Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 13
Revenue misses expectations Revenue missed analyst estimates by 0.2%. Over the next year,revenue is forecast to stay flat, in line with the revenue forecast for the Media industry in the United Kingdom. Is New 90 Day High Low • Dec 01
New 90-day high: €37.30 The company is up 19% from its price of €31.34 on 02 September 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 26% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €72.80 per share. 
