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    Financial impact COVID-19 limited second quarter VodafoneZiggo

    4 augustus 2020

    The second quarter of this year has, as a result of corona, been something of a challenge for society as a whole, and therefore for VodafoneZiggo, too. The importance of stable digital networks has been underscored more than ever, economically & socially.

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    We are continuing our significant investments in GigaNet, Vodafone and Ziggo’s powerful network, and in improving service levels to our customers. In the first six months of the year, we pumped almost 22% of our turnover back into our network infrastructure.

    VodafoneZiggo was the first provider roll out 5G on its mobile network nationwide and has recently acquired new frequencies to provide society with even faster and more stable and secure internet in the long term.

    The financial impact of the corona crisis on our results has been felt, particularly for roaming, but turnover as a whole has increased for the fifth consecutive quarter: 2% as compared to Q2 of 2019.

    Despite staunch competition, VodafoneZiggo has achieved commercial growth once again this quarter, continuing a three-year trend: + 58,000 mobile (post-paid) customers, + 6,000 fixed internet customers.

    70% of mobile customers and 42% of fixed internet customers now purchase products from both Vodafone and Ziggo. In absolute terms, Q2 has seen an increase of 47,000 mobile customers and 29,000 fixed customers who subscribe to a combined product. In total, that’s 1.4 million households, or 2.2 million mobile customers.

    The operating profit shows increased growth: 11% this quarter as compared to Q2 of 2019. This growth is in line with the previous eight quarters and can be attributed to higher turnover in combination with a continued cost focus and non-recurring gains.

    It may be clear that nobody knows precisely what the second half of this year will bring, but we remain confident that our ambition of modest growth in operational profit for 2020 will be achieved.