TeleGeography Logo

Liberty revenue growth slows to 1.0% in Q2

29 Jul 2022

UK-based cable group Liberty Global has reported total revenues of USD1.75 billion in the second quarter of 2022, a decrease of 41.3% from USD2.99 billion in Q2 2021, but up 1.0% year-on-year on a rebased basis. The steep decline in reported revenue is due to the removal of its UK-based Virgin Media division from its fully consolidated operations in mid-2021 when the unit was merged with O2 UK to create a non-consolidated 50/50 joint venture, Virgin Media O2 (VMO2). Adjusted EBITDA for the period fell to USD649.8 million (a decline of 45.8%/3.6% on a reported/rebased basis) whilst Adjusted Free Cash Flow dipped to USD427 million from USD586.9 million.

Across the group’s continuing operations in Belgium, Switzerland, Ireland and Slovakia it counted a total of 9.28 million fixed RGUs – a net reduction of 74,300 compared to Q1 2022 – and 4.11 million customer relationships (down 19,900 quarter-on-quarter). Of that total, 3.44 million RGUs represented fixed broadband connections (a net decrease of 4,600), 3.41 million video subscriptions (-38,000) and 2.469 million fixed voice lines (-31,700). Mobile subscriptions across the group’s continuing operations grew to 5.79 million, as net additions in Switzerland and Ireland offset a slight decline in Belgium.

United Kingdom, Liberty Global

GlobalComms Database

Want more? Peruse the GlobalComms Database—the most complete source of intel about mobile, fixed broadband, and fixed voice markets.


TeleGeography is the definitive source for telecom news, numbers, and analysis. Explore the full research catalog.