Virgin Media O2’s Q2 guided revenue, which excludes handset and the impact of nexfibre construction, was £2,175m, a 0.4% decrease Q2 2024, with lower B2B fixed revenue the main cause.
The company’s total revenue decreased 5.5% year-over-year to £2,526.8m. Total mobile revenue decreased 0.9% to £1,385m and consumer fixed revenue decreased 0.9% to £857.1m, due to a reduction in the customer base.
Its lost 51,300 fixed-line customers in the quarter and 73.600 mobile contracts, primarily driven by B2B.
Virgin Media O2’s B2B fixed revenue decreased 8.2% to £99.2m primarily driven by lower rental revenues. Other revenue decreased 38.7% to £185.5m with a continued lower level of nexfibre construction revenue compared to the prior year.
Its Guided Adjusted EBITDA increased 1.1% in Q2 supported by cost efficiencies.
CEO Lutz Schüler said: "Against a tough trading environment, we have continued to be disciplined delivering growth in profitability which means we are reconfirming our guidance for the year.
"We are carefully balancing volume and value through a multi-brand strategy in both fixed and mobile. In B2B, our new company with Daisy Group has received all relevant approvals and is now ready to go with an imminent launch."
The company expects in 2025 to report growth in revenue, Adjusted EBITDA and P&E additions of £2.0 to £2.2 billion.