Just days after research revealed that the leading independent full-fibre platform network had 13% UK access coverage, representing 4.3 million premises, CityFibre has announced record connections of 108,000 in its third quarter, almost double the 58,000 customers connected in the previous quarter.
The company said sales performance from partners continues to accelerate, delivering significant revenue and EBITDA (earnings before interest, taxes, depreciation, and amortisation) growth for the company. For the third quarter, CityFibre posted revenue of £43m, up from £34m a year ago, with an annualised run rate of £172m, up 26% year-on-year. Adjusted third-quarter 2025 EBITDA was £7.6m, more than five times that posted in the same quarter a year ago and now at an annualised run rate of £30m.
Having completed its 10Gb XGS-PON upgrade ahead of schedule and rolled out a 5.5Gb wholesale product, CityFibre said it was cementing its position as the UK’s wholesale provider of choice thanks to its ability to offer internet service provider (ISP) partners “the best economics, the best products and the best service”. CityFibre now has around 730,000 customer connections, with growth accelerating across its ISP partners.
In July 2025, Sky launched across CityFibre’s nationwide network, joining an ISP line-up that serves around 50% of the UK broadband market. When the deal was announced in August 2024, Sky Broadband had a customer base of 6.7 million across the UK and Ireland, with services in the UK then delivered by BT’s broadband provision division Openreach, making it the second-largest residential provider in the UK after BT itself.
Also in July 2025, CityFibre reached an agreement with its shareholders and existing lenders on a major £2.3bn financing round to accelerate its next phase of growth.
The financing includes £500m in new equity secured from CityFibre shareholders – including Goldman Sachs Alternatives, Antin Infrastructure Partners, Mubadala Investment Company and Interogo Holding – plus a £960m expansion of existing debt facilities. An accordion facility of £800m is also being made available to help drive CityFibre’s continued expansion through the acquisition of full-fibre network assets. This facility will be used to finance the company’s M&A pipeline and cement its position as the sector consolidator.
With the financing now concluded, the company said it is well-positioned to ramp up market consolidation and transform the reach of its network and the number of premises passed.
“Our rate of customer growth has real momentum, with our ISP partners making the most of CityFibre’s market-leading services and growing across our full-fibre network,” remarked CityFibre CEO Simon Holden.
“We are proving the strength of CityFibre’s wholesale business model as we reach an inflexion point, with our recent financing providing the firepower to significantly expand our reach through acquisitions and bring world-class digital infrastructure to people, businesses and communities across the UK.”
In addition to the Sky deal, the company has also launched full-fibre services for Gigafast+ across its nationwide network, and has completed the integration of Lit Fibre and the acquisition of Connexin’s full-fibre infrastructure.
