Airband Community Internet has published its latest financial results for the year ended 2023, revealing the altnet ISP had rapid growth and strong investment to significantly extend its reach.
Thu, 2/05/2024 - 14:59
Virgin Media O2’s total serviceable fixed network footprint increased by 194,000 FTTP homes in Q1 2024, with Nexfibre having hit the one million premise milestone in mid-April.
This represents an 80% year-on-year increase in build pace since Q1 2023, but a decrease of 35% since its last build quarter, Q4 2023, where it passed around 299,000 premises.
The pace of fibre upgrade activity across the existing Virgin Media O2 footprint also increased year-over-year, as planning for the fixed NetCo announced last quarter continued.
Lutz Schüler, CEO of Virgin Media O2, said: “While there is much to do in the remainder of the year, we are gathering momentum in accelerating fibre build and marketing the nexfibre footprint, launching new services to enhance and improve customer experience, and progressing wider IT efficiency programmes as we continue our digital transformation.”
In terms of financial performance in Q1 2024, revenue fell 0.5% year-on-year to £2,589m as revenue excluding the impact of nexfibre construction decreased 4.3%. Adjusted EBITDA was down 1.5% YoY to £935m.
