CityFibre delivering strong underlying performance as it moves to strengthen its capital structure and prepares for acquisition drive

CityFibre, the UK’s largest independent full fibre platform, provides a trading update for the nine months to 30 September 2026

Strong underlying revenue and profitability growth

• Revenue increased 36% to £164m, with consumer revenue up 61% to £127m

• Adjusted EBITDA quadrupled to £60m, as customer growth, operating leverage and continued cost discipline drove improved profitability

• Current performance represents annualised run rates of over £220m p.a. revenue and £100m p.a. EBITDA

Customer connections accelerate past one million

• The Company added 260,000 new consumer customers in the year-to-date, 23% up year-on-year

• Consumer penetration on the platform now exceeds 26%²

• More than one million customers are now connected to CityFibre’s network, with cumulative connections up 52% year-on-year

• ISPs on CityFibre continue to outperform, winning around two-thirds of customers switching provider where CityFibre is available

Process underway to strengthen long-term capital structure for acquisition drive

• Shareholders remain fully supportive of CityFibre’s strategy, reflected in the £900m equity commitment proposed in August 2026 to support growth plans

• This new equity provides the firepower needed to accelerate industry consolidation and expand CityFibre's network

• Discussions with lenders are ongoing to provide further support, together with the new equity, and establish a stronger and more sustainable long-term capital structure for the business

Simon Holden, CEO of CityFibre, said: “Our performance demonstrates the ongoing, fundamental strength of CityFibre’s business. We continue to grow our customer base and revenues while delivering significant improvements in profitability and maintaining a disciplined approach to costs and capital allocation.

"We also recognise that our capital structure needs to evolve to support our acquisition drive and unlock the next phase of CityFibre’s growth. With the continued backing of our shareholders, including a £900m new equity commitment, we are in discussion with our lenders to establish a strong, long-term capital structure for the business. This will enable CityFibre to accelerate consolidation in the sector creating a larger business with the funding and financial flexibility to deliver its long-term plan and establish the third national network the UK needs.”

ENDS

Notes to editors:

¹ Current management accounts, all figures unaudited

² CityFibre’s consumer RFS footprint = 4.2m

The accounts confirm the financial performance previously reported in CityFibre’s January 2026 trading update, indicated below: