Virgin Media O2 will publish its Q2 2024 financial results on 26th July 2024

Q4/FY23 financial results

5.8m

Fixed Line customers

(↑ 2,600 in Q4)

44.9m

Total Mobile connections

(↑ 256,000 in Q4)

£2,833m

Transaction Adjusted Revenue

(↑ 3.7% in Q4)

£1,089m

Transaction Adjusted EBITDA

(↑ 7.7% in Q4)

 

Invested another £2 billion in our networks and services. 2023 was our fastest year of fibre rollout yet, as our fibre footprint reached over 4 million premises

"We ended the year with stable revenues in line with our revised guidance at Q3, and achieved the low end of our mid-single-digit Transaction Adjusted EBITDA growth guidance through accelerated synergy execution which offset the impacts of consumer spend optimisation.

Operationally, we invested another £2 billion in our networks and services, with 2023 being the fastest year of fibre rollout as our fibre footprint reached over 4 million premises. In aggregate, our fully gigabit serviceable footprint now reaches over half of all UK homes, and our 5G network covers half the UK population. We also continued trading momentum with mobile and fixed customer growth, supported by sustained customer-first initiatives like inclusive EU roaming and our O2 Priority loyalty scheme.

Looking ahead, the 2024 outlook will be impacted by incremental investment in key initiatives to drive future growth, including increased marketing across our rapidly expanding fixed footprint, new commercial initiatives and wider digital and IT efficiency programmes. We remain focused on delivering against our core strategy and these key investments will help us to lay down strong foundations for future success."

Lutz Schüler - Chief Executive Officer

Investor information

For further investor information please visit the investor websites of Liberty Global and Telefónica.

8-K form Liberty Global investor site Telefónica investor site

Investor Relations contacts

Virgin Media O2

Subscribe for alerts
Journalists can contact the Virgin Media O2 press office on:
press@virginmediao2.co.uk 01753 565656
Virgin Media
press enquiries
press@virginmedia.co.uk
O2
press enquiries
pressoffice@o2.com