Liberty Global reports Q1 2025 results
Liberty Global today announced its Q1 2025 financial results.
CEO Mike Fries stated, “In our year-end investor call we outlined the core strategies we are undertaking to create and deliver value to shareholders following the successful spin-off of our Swiss subsidiary Sunrise. We made good progress on these plans in the first quarter of 2025.
• Our Liberty Telecom operations demonstrated resilience in competitive markets, with Virgin Media O2 returning to growth in revenue and Adjusted EBITDA, and VodafoneZiggo launching the first of a series of initiatives to regain commercial momentum.
• Financing and monetizing our network infrastructure remains a key priority, with Virgin Media Ireland expected to reach 80% of homes with fiber by year-end, and Telenet advancing discussions on rationalizing the fiber market in Flanders with Proximus. In the UK, we have decided to pause VMO2’s potential NetCo stake sale process to align with our JV partner, but remain opportunistic on both network upgrade and development opportunities.
• In our Liberty Growth portfolio, we remain committed to realizing $500-$750 million of asset disposals and to prioritizing our scale-based investments, including Formula E which has had a successful launch to Season 11 of the global racing championship.
• The FMV of the portfolio increased to $3.3 billion, with the top seven investments still comprising ~75% of the value.
• And our Liberty Services platforms in finance and tech continue to scale and generate positive Adj. EBITDA and Adj. EBITDA less P&E Additions, with Liberty Blume officially launching its B2B marketing campaign.
Across the group, our clear focus on unlocking shareholder value remains, as we resumed buybacks during the quarter towards our ‘up to 10% of shares’ target for 2025. The balance sheets of our core operating businesses are strong with no maturities until 2028, and low borrowing costs. Finally, it’s worth noting that Sunrise continues to trade well in the current macro environment following the spinoff, at over $10 per share of implied value to Liberty Global shareholders.
Our guidance at the Liberty Global corporate level remains unchanged, as does the guidance for all of our Liberty Telecom operations with the exception of VodafoneZiggo where we have revised guidance to align with management’s new long-term growth strategy.”
Read the full release.
