Virgin Media O2 added 297,000 mobile connections during the first three months of the year. This includes connections from wholesale customers such as Sky Mobile.
The network now has 35 million retail mobile connections for contract, prepaid and IoT. O2 monthly contract churn increased to one per cent caused by large enterprise disconnections, Monthly consumer contract churn remained low at 0.8 per cent.
The contract mobile base stood at 16.1 million, with a 20,900 net reduction in the first quarter due to “increased seasonal activity notably at the lower end of the consumer market”.
More than £500m was invested in the network during Q1. A further £2bn is expected to be invested this year. 5G is now available in more than 2,100 towns and cities and the network says it is on track to reach 50 per cent of the UK population in 2023
Lutz Schüler, CEO of Virgin Media O2, said:
“In the first quarter, we delivered a solid performance as we laid the groundwork for further progress through the remainder of the year. Our integration activity and the delivery of run-rate synergies are progressing at pace, with the migration of Virgin Mobile customers to O2 plans. We expect further run-rate synergies throughout the year including mobile backhaul integration using our own fixed network.
Full Q1 earnings details HERE.