Charter 2015 Annual Report Download - page 5
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3
Dear Shareholders,
Charter Spectrum, our advanced and
high-value product suite, has made
Charter the fastest growing cable
company in the United States today.
THOMAS M. RUTLEDGE
President and Chief Executive Officer
“
”
Our core strategy, to deliver superior products at highly compet-
itive prices, combined with outstanding service, continues to drive
Charter’s strong operating and financial momentum. And that momen-
tum continues to improve, as Charter Spectrum, our advanced
and high-value product suite, has made Charter the fastest grow-
ing cable company in the United States today. Looking forward, we
intend to apply the same customer-focused strategy that has
worked so well at Charter, to drive growth across the broader foot-
print we will manage, following the close of our transactions with
Time Warner Cable Inc. and Bright House Networks, LLC.
The success of our consumer-focused strategy and the increasing
value we provide to our customers is reflected in our 2015 per-
formance metrics. We finished 2015 with 6.7 million residential
and SMB (small and medium-sized business) customers, increasing
our customer base by 6%. We grew revenue by 7.1% and our
Adjusted EBITDA, excluding transactions transition costs, grew
by 8.5%. Our Adjusted EBITDA growth continues to exceed our
revenue performance, highlighting the cost benefits of providing
high-quality service. That EBITDA growth, combined with declining
capital intensity, is driving greater free cash flow. Charter gener-
ated approximately $550 million of free cash flow in 2015, more
than double the amount of free cash flow we generated in 2014.