Dutch telecommunications operator VodafoneZiggo recorded its best quarterly customer growth since early 2020, adding a net total of 7,200 broad accounts.
The company gained 12,000 new internet subscribers over the second quarter, alongside a substantial increase in its mobile division.
Mobile postpaid subscriptions rose by 31,700 across its core brands, marking the strongest quarterly mobile growth for the business in three years.
Revenues soften despite customer gains
Despite the rise in user numbers, total revenue for the quarter dropped by 1.5 percent year-on-year to 975 million euros.
Operating profit before depreciation and amortization fell 7.6 percent to 405 million euros during the same three-month period.
Management attributed the profit decline to lower total earnings and rising expenditure on broadcast content, which were only partially offset by internal cost cuts.
Preparing for a local stock listing
The financial results arrive during a major corporate restructuring for the company, which maintains a large operational headquarters in Amsterdam.
International media group Liberty Global is in the process of taking full ownership of VodafoneZiggo by buying out the remaining 50 percent stake held by Britain’s Vodafone Group.
Once the buyout completes, the Dutch business will be folded into a newly formed corporate entity alongside Belgian provider Telenet.
Liberty Global intends to list this combined entity on the Euronext Amsterdam stock exchange next year under the name Ziggo Group.
Current VodafoneZiggo chief executive Stephen van Rooyen has been nominated to lead the newly created public company following its public market debut.
