Virgin Media O2 CEO Lutz Schüler says he expects the operator to return to growth in core areas in 2025, having laid the foundations over the last 12 months.
2024 total revenue decreased 2.1% year-over-year to £10,680.5 million. Mobile revenue decreased and consumer fixed revenue increased, as part of ARPU growth following the annual price rise in Q2.
“Our investments of more than £2 billion across the year helped us to significantly boost our 5G coverage, improve mobile network quality and enhance rural connectivity. We also expanded our fibre footprint faster than ever as we build on our existing gigabit leadership and push ahead with creating the biggest fibre challenger in the UK along with nexfibre,” said Schüler.
The fixed customer base grew by 9,300 in 2024, including 9,900 net additions in Q4, as 21,300 net broadband connections were added across the full year, with 12,000 in Q4.
nexfibre, the joint venture between InfraVia Capital Partners, and Virgin Media’s owners Liberty Global and Telefónica, was a key driver in Virgin Media’s growth. Positive growth in ARPU per fixed-line customer relationship continued with a 2.0% year-over-year increase.
The upgrade of Virgin Media O2’s fixed network to fibre also continued at pace across the year, with a total fibre footprint of 6.4 million premises when including the nexfibre footprint.
