The UK’s independent full-fibre broadband network provider CityFibre has posted trading results for 2025 showing new highs in customer growth and profitability.
For the year ended 31 December 2025, CityFibre reported revenues of £170m, up 25% year-on-year, while adjusted EBITDA increased by 460% to £29m, reflecting accelerated take-up across the network. In addition, CityFibre exited the year strongly, with annualised run rates over the fourth quarter of £200m revenue and over £50m adjusted EBITDA.
CityFibre has also now exceeded 20% penetration across its consumer footprint, with more than 70% of the households that are switching broadband provider moving onto the CityFibre network where available. It said it remains on track to surpass 30% penetration by the end of 2026.
The fourth quarter saw an average of more than 50,000 new customers installed each month, a 112% increase year-on-year.
Looking at the drivers of growth, the company noted that take-up of its products accelerated in the second half of the year, driven by the successful launch of Sky across its nationwide, full-fibre footprint and continued product, pricing and service leadership across its newly upgraded 10Gbps XGS passive optical network (PON) network.
In a win for the firm, CityFibre signed a long-term partnership with Sky in August 2024, with broadband gigabit services available on CityFibre’s full-fibre network from July 2025. Commenting on the deal at the time, CityFibre CEO Greg Mesch said the partnership was a huge vote of confidence in the business, cementing its position as the UK’s third digital infrastructure platform.
CityFibre began offering 10Gb XGS-PON access technology as standard from April 2023, enabling residential and business services at symmetrical speeds of up to 10Gbps. The upgrade is said to have been completed ahead of schedule, and it also rolled out a 5.5Gb wholesale product for internet service provider (ISP) partners.
Other financial highlights of 2025 included gaining £500m in new equity from existing shareholders; a £960m expansion of existing debt facilities, alongside £800m accordion facility to drive mergers and acquisitions, of which £300m is already committed; and the acquisition of Connexin in March, bringing a choice of over 30 ISPs to Hull and the East Riding of Yorkshire.
Supported by an additional £2.3bn in financing during the year, CityFibre said it was entering 2026 with renewed ambition to consolidate the sector and extend its “market-leading” products, services and economics to even more customers across the UK, and with renewed ambition to consolidate the sector.
One of CityFibre’s strategic priorities is to expand its wholesale-only network to more than eight million UK premises and drive take-up across all market verticals – that is, residential, business, public sector and mobile.
Commenting on the trading results, CityFibre CEO Simon Holden said: “CityFibre’s wholesale business model has always set us apart and, as our network fills up with customers, we have the momentum to bring about a long-term, competitive alternative to BT Openreach and deliver significant benefits for the UK.
“Looking ahead, our nationwide 10Gb XGS-PON network will enable our ISP partners to unlock all the power of Multi-Gig as we deliver future-proofed digital infrastructure for businesses, mobile operators and public sector partners throughout the UK. Following a landmark 2025, CityFibre is proving to be the network of choice, and we enter 2026 with ever greater ambition.”
