EXIBIT 99.1
[NTL Logo]
NTL INCORPORATED
October 24, 2000
Page 5
NTL ANNOUNCES OPERATING STATISTICS FOR THIRD QUARTER 2000
19th CONSECUTIVE QUARTER OF MARKET SHARE INCREASE
OVER 8,000,000 CUSTOMERS
ON TRACK TO ACHIEVE GOAL OF 500,000 DIGITAL SUBS BY YEAR END
MONTHLY CHURN DECLINES TO 1.0%
New York, New York (October 24, 2000) - NTL Incorporated (NASDAQ and EASDAQ:
NTLI) announced today its preliminary operating statistics for its residential
services for the quarter ended September 30, 2000. The Company expects to
release its full quarter-end financial results on November 9, 2000, and will
host a meeting and a conference call at 10:00am the same morning. The Company
will issue a press release with the location of the meeting as well as the
dial-in number for the conference call approximately one week before the event.
Commenting on the Company's progress, Barclay Knapp, Chief Executive Officer,
said:
"We are extremely proud of this quarter's operating performance, having passed a
number of operating milestones and obtaining solid initial operating results
from ConsumerCo. The third quarter was extremely successful in terms of
subscriber additions. We added 73,900 subscribers in the third quarter, with
62,600 net additions in the UK/Ireland and 11,300 in Continental Europe.
Additionally, we added 12,300 subscribers in Switzerland through acquisition.
Our total number of RGUs in the UK and Ireland surpassed 5,000,000, reinforcing
our position as the leading bundled service provider in these markets. The
"Original" NTL franchises have turned in their 19th consecutive quarter of
increased customer penetration to 50.0%. Our Teeside franchise continues to lead
our UK operations with 65.2% household penetration, 8.7% higher than a year ago.
The Triangle (formerly Comcast UK), ComTel and Diamond franchises (the "1998
Acquisitions") have had another strong quarter gaining 4.9% customer penetration
and 5.5% telephony penetration over last year.
"The integration of Cable & Wireless ConsumerCo commenced last quarter and we
have already witnessed some solid results. Prior to our acquisition of
ConsumerCo, Cable and Wireless' cable telephony business had been losing
customers on a quarterly basis. Under its first full quarter of NTL ownership,
ConsumerCo began to report positive subscriber growth, adding 3,600 dual
customers and 16,300 RGUs in the third quarter. In addition, we have already
materially reduced monthly churn. While integration efforts continue at
ConsumerCo, we are pleased with these initial results and remain confident that
we will continue to be able to use the lessons that we learned in our prior
acquisitions to make the integration of ConsumerCo proceed smoothly.
<PAGE>
"The roll-out of digital cable continues to be a success. At the end of the
third quarter we served approximately 325,000 digital subscribers, up from
approximately 230,000 in the second quarter. Based on our third quarter results,
we remain confident that we will reach our goal of having 500,000 digital
subscribers by the end of 2000.
"The third quarter was one of rapid expansion for our Internet business, growing
ntlworld's customer base over 265% to 381,200 subscribers. During the quarter we
were also able to clear our service backlog and are currently experiencing no
delays in adding additional ntlworld subscribers.
"The third quarter also witnessed a wider roll-out of high speed Internet
services in the UK, Switzerland, France and Sweden. As of the end of the
quarter, these franchises served approximately 80,000 hi-speed Internet
subscribers. The demand for this product is substantial. Accordingly, the
roll-out of cable modems will be a major emphasis of NTL in the fourth quarter
and into 2001 and beyond."
<PAGE>
OPERATING HIGHLIGHTS
Residential Telecoms and Television Services
The following table shows the cable television and telephony customer statistics
for NTL in the United Kingdom and Ireland:
Cable Television and Telephony Customers as of September 30, 2000
<TABLE>
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<S> <C> <C> <C> <C> <C>
"Original" 1998 Cablelink and UK and Ireland
NTL(1) Acquisitions ConsumerCo (3) BT Cable (4) Consolidated
(2)
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Homes in Franchise (5) 2,090,000 3,037,600 6,049,600 640,500 11,817,700
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Homes passed 1,423,500 2,427,500 4,308,200 605,500 8,764,700
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Homes marketed (Tel.) 1,230,500 2,101,600 4,058,400 1,000 7,391,500
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Homes marketed (CATV) 1,230,500 2,161,900 4,058,400 560,600 8,011,400
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Total customers (6) 893,500 1,177,400 432,000 3,117,900
615,000
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Dual 518,600 812,500 200 1,898,100
566,800
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Telephone-only (6) 288,500 234,500 0 547,300
24,300
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Cable-only 86,400 130,500 431,800 672,600
23,900
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Total RGUs(7) 1,181,800 1,412,100 1,990,000 432,200 5,016,100
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Net Adds (Customers) (8) 18,800 32,300 3,600 7,900 62,600
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Net Adds (RGUs) (8) 35,200 79,000 16,300 8,100 138,600
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Customer penetration 50.0% 41.3% 29.0% 77.1% 38.9%
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RGU penetration 96.0% 65.3% 49.0% 77.1% 62.6%
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Telephone penetration 48.0% 38.4% 25.8% 20.0% 33.1%
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Cable penetration 48.0% 28.0% 23.2% 77.1% 32.1%
===================================================================================================================
(1) Data for franchises which NTL has been developing since 1993
(2) Data for the following franchises: Triangle, ComTel and Diamond Cable.
(3) Data for Cable & Wireless ConsumerCo franchises acquired in May 2000.
(4) Data for Cablelink (Ireland) and BT Cable (Westminster / Milton Keynes).
(5) Franchise home information from The Media Map Datafile 2000.
(6) Excludes approximately 454,000 off-net telephony customers and over 1.5 million Internet customers.
(7) An RGU is one cable television account or one telephone account; a dual customer generates two RGUs.
(8) Total additional customers and RGUs, respectively, as compared to June 30, 2000.
Monthly churn was approximately 1.0% at the end of the third quarter in NTL's UK
and Ireland franchises, except ConsumerCo, where churn for the month of
September (our most recent data measurement) was 1.9%.
<PAGE>
The following table shows the cable television and telephony customer statistics
for Triangle, ComTel and Diamond Cable, acquired in late 1998 to early 1999:
<CAPTION>
CATV and Telephony Customers for Triangle, ComTel & Diamond
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<S> <C> <C> <C> <C> <C>
9/30/2000 6/30/2000 3/31/2000 12/31/1999 9/30/1999
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Total customers 893,500 861,200 826,200 799,700 762,000
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Incremental customers (1) 32,300 35,000 26,500 37,700 22,300
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Customer penetration 41.3% 40.2% 38.5% 37.4% 35.9%
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RGU penetration 65.3% 62.2% 59.1% 57.2% 54.2%
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% Dual (2) 58.0% 54.8% 53.7% 53.1% 51.1%
===================================================================================================================
</TABLE>
(1) Total additional customers as compared to each respective prior quarter.
(2)A dual customer generates two RGUs. An RGU is one cable television account or
one telephone account.
The following table illustrates NTL's broadband position in Western Europe
outside of the UK and Ireland:
Cable Television and Internet Customers as of September 30, 2000 (in 000s)
<TABLE>
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<S> <C> <C> <C> <C> <C> <C>
(Switzerland) (France) (France) (Germany) (Sweden) NTL Europe
Cablecom(1) 1G(2) Noos(3) eKabel(4) B2(5) Gross (6)
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Ownership Interest 100% (1) 100% 27% 32.5% 25%
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Homes in Franchise (7) 1,875 287 3,179 2,800 247 8,388
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Homes passed 1,875 265 2,563 1,828 45 6,576
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Homes marketed (CATV) 1,706 212 2,563 1,828 0 6,309
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Customers (CATV) 1,555 48 730 1,294 0 3,627
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Penetration (CATV) 91% 23% 28% 71% n/a 57%
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Internet - Dial-Up 154 0 0 0 0 154
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Internet - Cable/Ethernet 19 0 49 0 8 76
========================================================================================================================
</TABLE>
(1) Cablecom (Switzerland) is 100% owned by NTL, however, Cablecom retains
various ownership interests in several smaller Swiss cable systems.
Historically, Cablecom has reported customer data reflecting the equity
interest applicable to each system and as of September 30, 2000 was as
follows: 1,690,500 franchise homes, 1,690,500 homes passed, 1,547,900 CATV
homes marketed and 1,404,300 CATV customers (includes an ongoing audit
adjustment at Cablecom of an additional 95,900 equity homes passed and
92,100 equity homes marketed). During the third quarter Cablecom acquired
15,100 equity cable subscribers and 6,700 equity Internet customers via the
acquisition of several cable systems. Data in the above table consolidates
all of the systems in which Cablecom has an ownership interest.
(2) The "1G Networks" (France) were acquired by NTL in 1999.
(3) Proforma for the closing of Noos (France). NTL recently agreed to acquire a
27% interest in Noos.
(4) NTL acquired a 32.5% interest in eKabel (Germany) in September 2000.
(5) NTL purchased a 25% equity interest in Bredbandsbolaget (B2)(Sweden) in
March 2000.
(6) Gross subscriber information assumes NTL owns 100% of B2, Noos, eKabel and
each of the cable systems in which Cablecom retains an ownership interest.
(7) Franchise home information is from Company records.
<PAGE>
The following table shows the Internet statistics for operations wholly-owned by
NTL:
<TABLE>
Internet Customers
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<S> <C> <C> <C> <C>
ntlworld &
NTL Direct UK Wholesale Switzerland Total NTL
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Customers at 6/30/2000 375,900 768,900 160,900 1,305,700
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Customers at 9/30/2000 665,100 853,500 172,500 1,691,100
=================================================================================================
</TABLE>
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995: In addition to the historical information presented, this release also
includes certain forward-looking statements concerning the future development of
the business, subscriber growth, customer penetration, churn and expectations
for the deployment of digital TV and cable modems. Such statements represent the
Company's reasonable judgment on the future and are based on assumptions and
factors that could cause actual results to differ materially. The Company
assumes no obligation to update these forward-looking statements to reflect
actual results, changes in assumptions or changes in factors affecting such
statements.
* * * * *
As previously announced, the Company expects to begin trading on
October 27, 2000, on the New York Stock Exchange under the ticker symbol "NLI".
* * * * *
For further information contact:
In the U.S.:
John F. Gregg, Senior Vice President - Chief Financial Officer
Richard J. Lubasch, Executive Vice President - General Counsel
Bret Richter, Vice President - Corporate Finance and Development
Amy Minnick, Investor Relations
(212) 906-8440
In the UK:
Alison Kirkwood
+44-1252-752-000
or via e-mail at [email protected]
