Company: LBTYK
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001570585-25-000223
Chunk: 142

Company: Liberty Global Ltd.
Filing Date: 2025-10-30
Form: 10-Q
Item: Item 8
Chunk 142
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 revenue, (b) a provision for legal matters in 2025, (c) a handset inventory-related insurance recovery during the third quarter of 2025 of approximately $27 million related to a loss recognized during the fourth quarter of 2024, (d) cost efficiencies and (e) decreases in the nexfibre JV construction impact to Adjusted EBITDA. In addition, the reported revenue and Adjusted EBITDA amounts are impacted by FX.

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(b)Represents (i) our 50% share of the results of operations of the VodafoneZiggo JV and (ii) interest income of $15.1 million, $14.2 million, $42.8 million and $41.7 million in the respective periods shown, representing 100% of the interest earned on the VodafoneZiggo JV Receivables. The summarized results of operations of the VodafoneZiggo JV are set forth below:

Three months endedSeptember 30,Nine months endedSeptember 30,2025202420252024in millionsRevenue$1,156.8 $1,131.1 $3,332.1 $3,336.7 Adjusted EBITDA$522.2 $527.8 $1,482.0 $1,565.5 Operating income$63.9 $93.8 $111.3 $292.4 Non-operating expense (1)$(145.4)$(259.8)$(439.4)$(493.9)Net loss$(37.0)$(132.6)$(227.4)$(161.6)

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(1)Includes interest expense of $194.5 million, $208.3 million, $574.7 million and $619.5 million in the respective periods shown. 

The changes in the VodafoneZiggo JV’s revenue during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024, are primarily due to the net effect of (i) decreases in residential fixed revenue, partially offset by the repricing impact, (ii) decreases in mobile revenue and (iii) higher B2B fixed revenue. The changes in the VodafoneZiggo JV’s Adjusted EBITDA during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024, are primarily due