Liberty Global has reported improved commercial momentum in the first quarter of 2026, as it continues to execute its strategy to ‘unlock shareholder value’ across its European operations.
The group posted total consolidated revenue of $1.27 billion (€1.18 billion), up 8.8% year-on-year, with adjusted EBITDA rising 12.9% to $366.5 million.
CEO Mike Fries said the company remained on track with its strategic priorities, including plans to acquire Vodafone’s 50% stake in VodafoneZiggo, expected to complete in July. Liberty Global also intends to spin off its interest in the Dutch operator to shareholders in the second half of 2027.
Across its Liberty Telecom division, the company reported improving broadband trends, with Virgin Media O2 continuing to stabilise its customer base despite competitive pressures. The UK joint venture also launched direct-to-device satellite connectivity during the quarter, alongside ongoing investment in fibre and 5G.
In Belgium, Telenet delivered its strongest broadband performance in over a decade, driven by cross-selling, while Virgin Media Ireland reported continued wholesale growth and positive mobile contract additions.
At VodafoneZiggo, broadband losses improved for a fourth consecutive quarter, supported by new commercial propositions and lower churn.
Liberty Global also continued to reshape its investment portfolio, generating around $180 million (€167 million) from asset disposals during the quarter, including a partial sale of its stake in ITV.
Looking ahead, the group reiterated its full-year guidance, forecasting a 3–5% decline in service revenue and adjusted EBITDA at its Virgin Media O2 joint venture, while maintaining investment plans of up to £2.2 billion (€2.6 billion) in network infrastructure.
