Is VodafoneZiggo profitable in 2025?

Yes at the operating level: FY2025 revenue was €4.0 billion and Adjusted EBITDA-AL was €1.7 billion, both down from €4.1bn and €1.9bn in 2024 respectively, per the company's Integrated Annual Report 2025 released 2026-03-26. Margins remain healthy but trending down amid fiber competition.

Who owns VodafoneZiggo now?

VodafoneZiggo has been a 50:50 joint venture of Vodafone Group and Liberty Global since 2016. On 2026-02-18 Vodafone agreed to sell its 50% stake to Liberty Global for €1.0 billion cash plus a 10% stake in new holding company Ziggo Group, deal expected to close H2 2026.

Is VodafoneZiggo losing customers to fiber competitors?

Yes. VodafoneZiggo lost over 40,000 customers including 31,000 broadband subscribers in Q1 2025 as fiber overbuilders DELTA Fiber, Open Dutch Fiber and Glaspoort expanded, per a 2025-05-07 report. Q4 2025 showed a rebound with 17,700 mobile net adds (2026-02-17).

Could AI replace VodafoneZiggo's business?

No. VodafoneZiggo's core revenue comes from physical last-mile cable/fiber networks, spectrum licenses and regulated operator status covering 7.6 million homes passed (as of 2026-06-18), assets AI cannot replicate. AI (chatbot TOBi, Agent Assist tools) only augments customer service and back-office tasks, launched 2025.

Who is VodafoneZiggo's biggest competitor?

KPN, the Dutch incumbent, holds roughly the same ~40% broadband share as VodafoneZiggo as of 2025-07-22 and is expanding fiber aggressively. Regional fiber overbuilders DELTA Fiber, Open Dutch Fiber and Glaspoort are also actively eroding VodafoneZiggo's cable footprint as of mid-2025.

Will VodafoneZiggo become a publicly listed company?

Indirectly, yes. Liberty Global plans to combine VodafoneZiggo with Belgian sister company Telenet into a new entity, Ziggo Group, and spin off 90% of it to shareholders with a Euronext Amsterdam listing targeted for 2027, per a 2026-02-18 deal announcement.

Telecom infrastructure · subsidiary of Liberty Global plc (pending full acquisition of Vodafone's 50% stake, expected H2 2026; currently co-owned 50:50 with Vodafone Group Plc) · Netherlands

Vodafone Ziggo

vodafoneziggo.nl ↗

Dutch cable and mobile operator, a Vodafone-Liberty Global joint venture serving 7.6m homes.

Protection under test

Assessed 25 July 2026 · Evidence as of 25 July 2026

Something worth protecting exists and is being tested right now.

On the recordSince 25 July 2026 · Checkable from end of 2026 · Every call on the record Checkpoint: DOCSIS 4.0 and 1.8GHz network upgrade completion, the main answer to fiber overbuild

The call

A regulated cable and mobile giant holding roughly even broadband share with KPN while fiber crews dig closer, betting DOCSIS 4.0 lands before more customers switch.

Vodafone Ziggo runs cable lines and mobile networks serving 7.6 million Dutch homes. Fiber companies like DELTA Fiber and Open Dutch Fiber are building competing networks and taking customers away, which is hard to stop because they own their own lines too. The company is shrinking (losing customers and revenue), so the real test is whether new technology called DOCSIS 4.0 can win back broadband customers in 2026, or if fiber will keep winning and the company becomes just a slow-growth utility.

Why

AI pressure: None apparent. AI drives more data and streaming traffic across the network rather than replacing the pipes or the subscription. Could AI do the core job? Unlikely.

Bigger players: KPN and fiber overbuilders (DELTA Fiber, Open Dutch Fiber, Glaspoort). Fiber crews are passing homes VodafoneZiggo already serves, and Q1 2025 saw 31,000 broadband customers leave for it. Could a giant copy it? No, they are blocked.

What protects it. Cable network reaching 7.6m homes, spectrum holdings, and a DOCSIS 4.0 upgrade meant to match fiber speeds by end 2026.

What would change this call

Broadband net-adds trend across Q1-Q2 2026 reports. Shows if Q4 2025's 17,700 net-add rebound holds or reverts to Q1 2025 losses.
DOCSIS 4.0 upgrade completion status by end-2026. Shows whether network upgrade arrives in time to blunt fiber overbuild share loss.
Liberty Global-VodafoneZiggo ownership deal closing and 2027 listing timeline. Shows whether the ownership transition proceeds cleanly or gets re-cut/delayed.

Key numbers

FY2025 revenue €4.0bn, down from €4.1bn in 2024 (2026-03-26)
Q4 2025 mobile postpaid net adds: +17,700 (2026-02-17)
Q1 2025: lost 40,000+ customers, 31,000 broadband (2025-05-07)

Named risks

Fiber overbuild from DELTA Fiber, Open Dutch Fiber and Glaspoort eroding broadband share. Severity: high
Pending Vodafone stake sale to Liberty Global could be delayed, re-cut or blocked before H2 2026 close. Severity: medium
Revenue and EBITDA both declining YoY in FY2025 (€4.0bn vs €4.1bn; €1.7bn vs €1.9bn). Severity: high
Ongoing restructuring and job cuts (~400 in 2025) signal cost pressure amid customer losses. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
KPN	contesting	Roughly tied ~40% broadband share each as of 2025-07-22, KPN expanding FTTH aggressively
DELTA Fiber, Open Dutch Fiber, Glaspoort	gaining on	Fiber overbuilders drove 31,000 broadband customer losses in Q1 2025
Odido	losing to	Odido recognized fastest 5G network in Netherlands, March 2025 per Opensignal

Questions people ask

Is VodafoneZiggo profitable in 2025?: Yes at the operating level: FY2025 revenue was €4.0 billion and Adjusted EBITDA-AL was €1.7 billion, both down from €4.1bn and €1.9bn in 2024 respectively, per the company's Integrated Annual Report 2025 released 2026-03-26. Margins remain healthy but trending down amid fiber competition.
Who owns VodafoneZiggo now?: VodafoneZiggo has been a 50:50 joint venture of Vodafone Group and Liberty Global since 2016. On 2026-02-18 Vodafone agreed to sell its 50% stake to Liberty Global for €1.0 billion cash plus a 10% stake in new holding company Ziggo Group, deal expected to close H2 2026.
Is VodafoneZiggo losing customers to fiber competitors?: Yes. VodafoneZiggo lost over 40,000 customers including 31,000 broadband subscribers in Q1 2025 as fiber overbuilders DELTA Fiber, Open Dutch Fiber and Glaspoort expanded, per a 2025-05-07 report. Q4 2025 showed a rebound with 17,700 mobile net adds (2026-02-17).
Could AI replace VodafoneZiggo's business?: No. VodafoneZiggo's core revenue comes from physical last-mile cable/fiber networks, spectrum licenses and regulated operator status covering 7.6 million homes passed (as of 2026-06-18), assets AI cannot replicate. AI (chatbot TOBi, Agent Assist tools) only augments customer service and back-office tasks, launched 2025.
Who is VodafoneZiggo's biggest competitor?: KPN, the Dutch incumbent, holds roughly the same ~40% broadband share as VodafoneZiggo as of 2025-07-22 and is expanding fiber aggressively. Regional fiber overbuilders DELTA Fiber, Open Dutch Fiber and Glaspoort are also actively eroding VodafoneZiggo's cable footprint as of mid-2025.
Will VodafoneZiggo become a publicly listed company?: Indirectly, yes. Liberty Global plans to combine VodafoneZiggo with Belgian sister company Telenet into a new entity, Ziggo Group, and spin off 90% of it to shareholders with a Euronext Amsterdam listing targeted for 2027, per a 2026-02-18 deal announcement.

Timeline

2026-06-30Stephen van Rooyen named CEO of future combined Ziggo Group (VodafoneZiggo plus Telenet)
2026-06-18Liberty Global discloses ~6,200 employees and 7.6m homes passed for VodafoneZiggo
2026-03-26FY2025 Annual Report: revenue €4.0bn (down from €4.1bn), EBITDA-AL €1.7bn (down from €1.9bn)
2026-02-18Liberty Global agrees to buy Vodafone's 50% stake for €1.0bn plus 10% of new Ziggo Group
2026-02-17Q4 2025 results: revenue €1.020bn, best commercial quarter in over two years
2025-12-11Xomnia partnership generative AI customer service tools reported launched
2025-10-29Q3 2025 results: revenue €990m (-3.9% YoY); nationwide 2 Gbit/s speeds launched
2025-05-07VodafoneZiggo announces ~400 job cuts after losing 40,000+ customers in Q1 2025

Revision history

25 July 2026

First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.

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