Solid performance in unchanged market conditions
· New marketing campaigns launched in February; increased new All-in-1 sales
· Successful launch of our cloud-based video user interface; higher number of interactive set top boxes
· B2B continues to record double-digit organic revenue growth
· Completion of €1.1 billion debt refinancing; extending the maturity profile, reducing interest costs and increasing flexibility

Operational highlights Q1 2013
· All-in-1 bundle subscribers up 31,000 in Q1, resulting in 2.2% q-o-q growth and 8.3% y-o-y growth; All-in-1 bundle penetration reaches 52.2% of our consumer customer base
· Internet subscribers up 24,000 in Q1, representing 1.3% q-o-q growth and 5.0% y-o-y growth
· Telephony usage revenue up 3.1% q-o-q and down 5.8% y-o-y (down 1.1% excluding FTA rate reduction)
· Higher Digital Pay TV revenue, including Video on Demand, resulting in 0.4% q-o-q growth and 5.0% y-o-y growth
· B2B expands services through acquisition of Esprit Telecom, subject to approval by the Dutch Competition Authority (ACM)

Financial highlights Q1 2013
· Revenues up 0.2% y-o-y to €387.8 million; up 1.8% excluding 'Other Revenues', despite a 5.8% decline in telephony usage revenues
· Adjusted EBITDA €222.6 million, up 3.0% y-o-y
· Free cash flow €160.1 million, up 8.3% y-o-y
· Special tax treatment for innovation lowers effective tax rate
· Net profit increased to €92.6 million from a loss of €14.5 million in Q1 2012
· Earnings per share €0.46
· Leverage ratio down to 3.15x compared to 3.33x at year-end 2012

CEO Bernard Dijkhuizen:
"The first quarter of 2013 showed solid results with strong EBITDA margins in a continuing competitive environment. We have successfully stepped up our marketing activities in the consumer market with the launch of new sales campaigns in February. However churn remains high, so we will initiate new loyalty campaigns in the second quarter with a strong focus on customer retention. These should give support to our overall objective to reduce churn and create revenue momentum in the course of 2013. Meanwhile, we will focus on enhancing customer experience through new innovations and product enhancements. The recent launch of our cloud based user interface for set top boxes has resulted in a strong increase in the number of interactive receivers since its launch. With the roll-out of Ziggo WiFi Hotspots this year we will prepare and position ourselves for converged services by adding mobility for our customers.

Our B2B operations again showed double digit organic growth, driven by the sale of business bundles focusing on home offices and small businesses. With the acquisition of Esprit Telecom we will strengthen our propositions and services for the mid-market and benefit from operating leverage through a substantial increase in our customer base and reseller channel. Together with our state-of-the-art infrastructure, the acquisition of Esprit will bring new growth opportunities for our B2B operations in this segment."

Outlook
We reiterate our guidance for 2013 EBITDA which we expect to increase between 2.5% and 3.5%. Based on the first quarter operational results, including elevated churn, we anticipate 2013 revenue growth (excluding 'Other Revenues') to be around the low end of the EBITDA growth. We anticipate improved revenue momentum over the course of 2013 as our marketing and retention initiatives take effect. Our capital expenditure for 2013 is expected to be in the range of €320-€330 million.

In line with the dividend policy, Ziggo will pay a final dividend over 2012 of €180 million, or €0.90 per share, to its shareholders on April 29. On September 6, Ziggo expects to make a 2013 interim dividend payment of €190m.

CEO succession
On March 6, the Supervisory Board of Ziggo announced its intention to appoint René Obermann as the new CEO of Ziggo, effective January 1, 2014. René Obermann is currently CEO of Deutsche Telekom AG. This planned transition coincides with the previously disclosed retirement of the current CEO, Bernard Dijkhuizen, in January 2014, ensuring continued strong leadership of Ziggo in the future.

Acquisition Esprit Telecom
On March 14th, Ziggo announced it is further expanding its services for the business market through the acquisition of Esprit Telecom, a leading provider of voice and data services for the SME market in the Netherlands. The company has an active sales channel of dealers across the country. The acquisition includes Zoranet, an ICT service provider that focuses on the retail sector. The acquisition is subject to approval by the Dutch Competition Authority (ACM). In 2012, Esprit Telecom generated revenues of €37 million. The acquisition is valued at €18 million.

Important dates
This year, Ziggo expects to publish its quarterly results on the following dates:

Q2 2013 July 18, 2013
Q3 2013 October 18, 2013

The 2012 Annual General Meeting of Shareholders will be held on April 18, 2013.
April 18, 2013 AGM and final declaration of dividend
April 22, 2013 Ex-dividend (at opening)
April 24, 2013 Record date (after close)
April 29, 2013 Payment date


Interim dividend 2013:
September 3, 2013 Ex-dividend (at opening)
September 5, 2013 Record date (after close)
September 10, 2013 Payment date