Virgin Media O2 delivers Q2 revenue, profits growth | Infrastructure | News | Rapid TV News
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A year after the coming together of the Virgin Media cable business with the O2 mobile platform has seen the merged company increase its fixed and mobile customer base with 8,000 fixed and 13,000 mobile contract net adds leading to revenue and EBITA improvements.
VirginMediaO2 2June2021
For the quarter ended 30 June 2022, Virgin Media O2’s total fixed-line (cable) customer base stood at 5.8 million with additions of 8,000 in the quarter, and added 16,000 broadband connections, with an average broadband speed of 247 Mbps, five times faster than the national average.

During the quarter, the company’s gigabit network expansion build programme, Project Lightning, increased to 114,000 premises, up from 101,000 premises added in Q1 2022 and 89,000 premises added in Q2 2021. The cumulative Lightning footprint is now 2.9 million and the company is on-track to add over 500,000 Lightning premises in 2022 - further bolstering Virgin Media O2’s gigabit leadership in the UK with speeds of 1.1Gbps offered across its entire footprint of 15.9 million premises. The FTTP upgrade of the existing network is starting to ramp up following completion of trials in Q1. The goal is to roll out full fibre across the fixed network at a cost of £100 per home with completion in 2028.

The mobile contract additions took the company’s total mobile contract base to 16 million, Virgin Media O2’s total retail mobile connections - contract, prepaid and IOT - now stand at 33 million.

5G was available in more than 600 towns and cities a t the end fo the quarter and the company said that it was on-track to reach 50% of UK population in 2023 / leveraging O2’s leading position in low-band spectrum. It also upgraded 4G capacity in 154,000 postcodes during Q2.

Commenting on the quarter, Virgin Media O2 CEO Lutz Schüler said: “It’s one year on since Virgin Media O2 was born and, while we’ve got much more to do, we came out of the gate running and achieved a huge amount in our first year as a joint business. Our mission has been to upgrade the UK and be the biggest challenger in the market, and we’ve continued to do just that.”