Liberty Global Reports Q4 and FY 2024 Results

Liberty Global today announced its Q4 and full year 2024 financial results.

CEO Mike Fries stated, “In 2024 we successfully managed through what continues to be a challenging competitive environment, including difficult prior year comparisons in Q4, to achieve all full-year guidance metrics across our Liberty Telecom businesses, with the exception of the stable revenue result at VodafoneZiggo. Fixed ARPU grew across all of our core Liberty Telecom assets during both the quarter and the full year, and in Belgium and the U.K. we delivered growth in broadband net adds for Q4.

We’re well-positioned to defend and grow market share, with our main brands underpinning value in premium segments and our flanker brands driving growth in low-cost segments, all underpinned by customer centricity, digital and AI initiatives, and our next-generation networks. We continue to invest in our fiber-rich networks, with FTTH programs ramping across the U.K., Belgium, and Ireland. In the U.K., we now reach 6.4 million premises with fiber, and preparations for a fixed NetCo are progressing on track with a perimeter now defined. In Belgium, our fiber sharing agreement with Proximus is pending regulatory approval, and we’ve successfully secured commitments
for a standalone €500 million capex facility for our NetCo in that market called Wyre. In mobile, VMO2 continues to advance its 5G network, with outdoor coverage now reaching 75% of the U.K., and further improvements to be underpinned by the acquisition of spectrum from Vodafone-Three, which is
expected to occur later this year.

During the quarter, we successfully increased our stake in Formula E to 66%. As a global championship with ~400 million racing fans, the business is on an impressive trajectory, and with our control position we’re excited to unlock its future growth potential. Elsewhere in our Liberty Growth portfolio, we
continue rotating capital into scale-based businesses with unique opportunities to create value. Our top seven investments now account for 75% of the portfolio’s FMV, and following the ~$900 million in proceeds from non-core asset disposals since October 2023, we’re targeting a further $500 million to $750 million in 2025.”

Read the full release.