Liberty Global Reports Q2 2026 Results

Liberty Global Ltd. announces its Q2 2026 financial results. CEO Mike Fries stated , “In the second quarter, we continued to execute against our strategic priorities including taking key steps towards unlocking value for shareholders through the planned Ziggo Group spin-off as early as mid-2027:

Liberty Telecom: Our Telecom operations continued to focus on driving commercial momentum and investing in the future-proofing of our infrastructure. In the Benelux, VodafoneZiggo delivered positive broadband net adds with the best quarterly performance in six years driven by continued execution of the How We Win plan, while Telenet delivered the fifth consecutive quarter of positive broadband net adds, supported by strong cross-sell campaigns and sales execution. In the UK, broadband and postpaid trading performance improved year-over-year at Virgin Media O2, while the full fiber network expansion hit a milestone 9 million 1 premises. Virgin Media Ireland delivered positive postpaid mobile net adds for the sixth consecutive quarter and positive total broadband net adds 2 , supported by strong wholesale performance.

Ziggo Group spin-off: During Q2 we made significant progress against the key steps ahead of the Ziggo Group spin-off in 2027, including the announcement of Ziggo Group management in June. In Belgium, we received approval from the Belgian Competition Authority for the fiber sharing agreement with Proximus, enabling a full separation of the capital structures at Telenet and Wyre. In the Netherlands, we remain on-track to close the acquisition of Vodafone's 50% stake in Vodafone Ziggo by the end of July, with all approvals met to close.

Liberty Growth: In the second quarter, we completed the full exit of our remaining stake in EdgeConneX for total proceeds of $604m representing >30% IRR on our investment and bringing our year-to-date disposals to ~$900m. The portfolio remains concentrated, with the top five investments comprising over 50% of the $2.9 billion 3 FMV. We are continuing to focus on areas where we see conviction in our right-to-play, with strong structural tailwinds and a clear path to value monetization over time.

Liberty Global: Year-to-date we have achieved ~$1.2 billion in asset monetizations, including Growth portfolio disposals of ~$900m and a ~$340m asset-backed loan secured by a portion of our Wyre stake. As a result, we are upgrading our year-end corporate cash target from ~$1.5 billion to ~$2.0 billion 4 . We remain focused on disciplined capital allocation and rotation, while continuing to execute our strategy and return value directly to shareholders."

For more information, including the bond update by credit silo, please see our full release here: https://www.libertyglobal.com/wp-content/uploads/2026/07/LG-Q2-2026-Press-Release.pdf Key Summary of Operating and Financial Highlights 5 , 6 Three months ended June 30, Increase/(decrease) Six months ended June 30, Increase/(decrease) 2026 2025 Reported % Rebased % 7 2026 2025 Reported % Rebased % 7 in millions, except % amounts Revenue Telenet $ 753.1 $ 785.1 (4.1 ) (1.0 ) $ 1,512.5 $ 1,528.3 (1.0 ) (0.7 ) Wyre 197.8 195.0 1.4 (1.0 ) 396.7 375.8 5.6 (1.0 ) VM Ireland 122.4 122.8 (0.3 ) (2.7 ) 249.4 238.6 4.5 (2.0 ) Consolidated Liberty Telecom 1,073.3 1,102.9 (2.7 ) 2,158.6 2,142.7 0.7 Liberty Growth 110.8 163.8 (32.4 ) (27.9 ) 288.4 291.1 (0.9 ) (0.6 ) Liberty Corporate 232.7 223.7 4.0 (3.7 ) 471.9 431.1 9.5 (3.5 ) Consolidated intercompany eliminations (244.8 ) (221.3 ) N.M. N.M. (472.3 ) (424.6 ) N.M. N.M. Total consolidated $ 1,172.0 $ 1,269.1 (7.7 ) (6.0 ) $ 2,446.6 $ 2,440.3 0.3 (1.5 ) Nonconsolidated 50% owned Liberty Telecom: VMO2 JV $ 3,220.3 $...