CityFibre achieves profitability
February 12, 2025
CityFibre has reported record revenues and its first year of profitability.
The UK fibre broadband player delivered a record 34 per cent increase in revenue to £134 million in 2024. Consumer revenues increased by 73 per cent, and djusted EBITDA stood at £5 million. The company added over 181,000 net new customers, reaching 518,000 total live customers
CityFibre has secured a long-term strategic agreement with Sky and says it is on track to launch consumer services over its nationwide network in 2025. The Sky agreement nearly doubles CityFibre’s addressable market with Consumer Internet Service Providers (ISPs) on the platform now accounting for 49 per cent of UK broadband market share.
Greg Mesch, Chief Executive Officer at CityFibre, said: “2024 was a definitive year for CityFibre. We achieved our first full year of profitability, signed a new strategic partnership with Sky, which doubled our retail sales capacity, and solidified our position as the UK’s leading independent wholesale network. As we look ahead to 2025 and beyond, we are confident in delivering accelerated, profitable growth across our expanding platform, with half the UK broadband market now served by our partners. We will also harness our increased participation in government’s Project Gigabit and make the most of a rapidly emerging altnet consolidation opportunity, realising the benefits of infrastructure competition for consumers, businesses and for the UK.”
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