VodafoneZiggo improves sales by 2% in FY20 as cable growth offsets mobile drop

16 Feb 2021

Dutch fixed and mobile operator VodafoneZiggo’s revenue grew 2.0% in full-year 2020 to EUR4.00 billion (USD4.85 billion) and by 0.5% year-on-year in Q4 2020 to EUR1.02 billion, driven by consumer cable (revenue up 4% in FY20 and 3% in Q4) and B2B cable (up 10% in FY20, 9% in Q4), offsetting declines in consumer mobile (flat in FY20 but down 5% in Q4) and B2B mobile (decreasing 8% in both FY and Q4 2020). Adjusted EBITDA grew 5.7% to EUR1.88 billion in FY 2020 and 0.6% to EUR460 million in 4Q20, supported by revenue growth and disciplined cost control, partially offset by the negative net impact of COVID-19. FY net loss narrowed to EUR393 million compared to EUR420 million in 2019 primarily driven by foreign exchange gains and EBITDA growth, and despite 4Q20 net loss reaching EUR294 million compared to EUR133 million in 4Q19.

Total fixed internet subscriber lines increased slightly y-o-y to 3,363,500 at 31 December 2020 (end-2019: 3,362,100), despite consumer internet subscribers decreasing by 24,000 in FY20 including 14,000 in Q4, primarily driven by increased market competition. Fixed telephony accesses fell to 2,272,800 (from 2,409,500) and video subscribers dropped to 3,831,300 (3,870,100). Total mobile subscribers grew by a net 124,900 y-o-y to 5,189,800, driven by the addition of 188,000 net consumer mobile post-paid customers in FY20.

Netherlands, VodafoneZiggo