Financial Results

Openreach’s FTTP network now passes 15 million premises according to its latest trading update.

Openreach’s FTTP build rate accelerated to one million premises passed in Q4, up from 950,000 in the last quarter, spurred by a record 78k homes passed per week.

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.

Virgin Media O2’s Q4 results reveal that it delivered 833,100 additional serviceable premises on its fibre network during the 2023 financial year.

Openreach has accelerated its FTTP build rate to 73k per week, delivering a record 950k premises passed for its Q3.

CityFibre generated £100m in revenue during 2023 and delivered more than one million premises ready for services.

Virgin Media O2’s fixed network rollout passed 500,000 in 2023, with 250,800 additional homes serviceable in Q3.

Openreach delivered a record of 860k premises passed with fibre this quarter, accelerating its build rate to 66k.

Virgin Media O2 has confirmed plans to cut 2,000 jobs by the end of the year, representing 12% of its workforce. This coincides with the company’s Q2 results to June 2023, which places a heavy focus on nexfibre’s fixed network deployment.