LBTYK

EX-99.1

2 ex991lgq32026pressrelease.htm

EX-99.1

Document

Exhibit 99.1

Progressing commercial initiatives and advancing value unlock strategy in the Benelux

Denver, Colorado: November 3, 2026 - Liberty Global Ltd. announces its Q3 2026 financial results.

CEO Mike Fries stated, “In the third quarter, we made significant progress against our key priorities:

•Ziggo Group spin-off: During Q3, we completed several important milestones to advance the structural formation of Ziggo Group1 ahead of our planned Q2 2027 spin-off. Most notably, we closed on the purchase of Vodafone's 50% stake in VodafoneZiggo, announced the senior executive management team and engaged external advisors. Operating and financial synergies are being finalized and are currently expected to exceed our previous NPV estimate of €1 billion. We also reached an agreement to sell VodafoneZiggo's mobile towers for €669m (16.2x 2025 EBITDA), with the proceeds to be used for deleveraging at VodafoneZiggo, as part of the wider €1.2-€1.4B Ziggo Group non-core asset disposals target to further reduce leverage. We currently intend to make initial confidential submissions to the SEC and the AFM in December in connection with the proposed spin-off transaction. Meanwhile, both operating businesses in the Netherlands and Belgium reported strong quarterly results.

•Liberty Telecom: Our Telecom operations continued to focus on improving commercial performance. In the Netherlands, VodafoneZiggo delivered a second consecutive quarter of positive broadband additions and the best performance since Q2 20192, while total revenue returned to growth for the first time since Q2 2024. VodafoneZiggo also became the first major provider globally to offer 8Gbps on DOCSIS 4.0, demonstrating the potential of a network that already reaches millions of households across the Netherlands. In Belgium, Telenet grew the broadband customer base for the sixth consecutive quarter, driven by continued strength in BASE FMC. Virgin Media Ireland continued to drive strong postpaid mobile performance, with positive net adds for the seventh consecutive quarter, while positive broadband net adds3 were supported by continued strong wholesale performance.

•Virgin Media O2, in the UK, outlined the direction for a new strategic plan, with the goal of simplifying the business and driving sustainable growth and cash generation. The program calls for £800 million of run-rate cost reductions by 2029, supported, in part, by a 30% reduction in people cost. Against the backdrop of a challenging macro-economic climate and an intensely competitive UK telecom market, Virgin Media O2 will prioritize capital spending on fewer, more measurable projects, and will halt its own fiber upgrade plan, while continuing to support nexfibre. These initiatives, and more, will benefit the broader goal of reducing leverage over the coming years.

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•Liberty Global: We ended Q3 with ~$2.0B of corporate cash and completed $100m of share buybacks during the quarter. We anticipate ending 2026 with ~$1.8B4 of corporate cash, with a further $100m of share buybacks expected in Q4. We remain intensely focused on disciplined capital allocation and executing our unlock strategy to deliver value directly to shareholders."

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Key Summary of Operating and Financial Highlights5,6

Three months ended September 30,Increase/(decrease)Nine months ended September 30,Increase/(decrease)

20262025Reported % Rebased %7 20262025Reported % Rebased %7

in millions, except % amounts

Revenue

Ziggo Group (i)$1,906.5 $1,942.6 (1.9)1.4 $5,701.2 $5,646.2 1.0 (0.3)

Wyre193.8 201.0 (3.6)(2.1)590.5 576.8 2.4 (1.4)

VM Ireland118.6 122.2 (2.9)(1.5)368.0 360.8 2.0 (1.9)

VMO2 JV (nonconsolidated)3,262.7 3,436.0 (5.0)(5.7)9,705.4 9,935.8 (2.3)(6.7)

Total reportable segments5,481.6 5,701.8 (3.9)16,365.1 16,519.6 (0.9)

Liberty Growth (ii)108.3 93.5 15.8 34.5 396.7 384.6 3.1 4.8

Liberty Corporate (ii)248.1 234.9 5.6 10.9 720.0 666.0 8.1 2.5

Consolidated intercompany eliminations(271.8)(230.3)N.M.N.M.(744.1)(654.9)N.M.N.M.

Less: nonconsolidated JVs (i)(3,645.6)(4,592.8)N.M.N.M.(12,370.5)(13,267.9)N.M.N.M.

Total consolidated$1,920.6 $1,207.1 59.1 1.0 $4,367.2 $3,647.4 19.7 (0.8)

Net earnings (loss)

Liberty Global Consolidated$547.7 $(83.4)756.7 $548.1 $(4,180.5)113.1

Liberty Growth$(84.8)$(49.7)(70.6)$(184.1)$(100.2)(83.7)

Liberty Corporate$(119.9)$(69.4)(72.8)$(31.2)$(4,176.0)99.3

Adjusted EBITDA

Ziggo Group (i)$674.8 $720.4 (6.3)(6.8)$2,007.8 $2,021.0 (0.7)(4.7)

Wyre138.9 160.7 (13.6)(12.2)434.8 459.4 (5.4)(8.6)

VM Ireland28.5 41.8 (31.8)(30.8)107.3 120.4 (10.9)(14.1)

VMO2 JV (nonconsolidated)1,207.8 1,250.3 (3.4)(3.9)3,479.9 3,496.0 (0.5)(4.3)

Total reportable segments2,050.0 2,173.2 (5.7)6,029.8 6,096.8 (1.1)

Liberty Growth (ii)(58.9)(23.0)(156.1)(37.1)(82.6)(25.9)(218.9)(10.1)

Liberty Corporate (ii)8.2 (31.2)126.3 N.M.(12.1)(66.5)81.8 46.1

Consolidated intercompany eliminations(19.4)(10.0)N.M.N.M.(39.6)(30.0)N.M.N.M.

Less: