HATFIELD, U.K. -- The UK’s leading communications company, Everything Everywhere - the joint venture between T-Mobile and Orange in the UK - today announced its maiden annual financial results for the nine months to December 31st, 2010.
2010, 9 months results highlights – operational:
Clearance for the joint venture achieved at earliest opportunity
Merger integration continued throughout, with rapid progress, ahead of plan
Leadership team in place followed by complete company restructure, aligning the business with the new strategic direction and supporting synergy capture
2010, 9 months results highlights - financial:
Revenue growth of 1.5% year on year, excluding regulatory impact
Continued strong contract customer growth, up 33% over the same period in 2009 to 752,000 net new additions
Reconfirmed synergy target of £3.5bn NPV and progressed synergy capture with £146m gross opex savings in 2010
Adjusted EBITDA was £1,023m for the 9 months ended 31st December, impacted by regulation and a renewed investment in contract customer growth across both brands
£646m dividend paid to shareholders Deutsche Telekom and France Telecom
Fourth quarter highlights - operational:
Created the UK’s first ‘super network’ with 2G national roaming launched across both networks with 4.3m early adopters opted in by the end of 2010. 2G national roaming is now being automatically switched on for all customers, with 3G national roaming available from the Spring; over 100m additional calls made on the network as a direct result of 2G national roaming, by end of 2010
Smartphones on the increase: Smartphone devices now account for 82% of all Pay monthly connections – compared to 50% for same quarter last year
Orange launches exclusive Windows phone 7 handsets as Microsoft’s key UK partner and Everything Everywhere was the first to launch iPad tariffs across both brands
Fourth quarter highlights - financial:
Underlying revenue growth of 1%, excluding regulatory impact
Sustained growth in postpay customer base with 300,000 net additions in Q4 and a year on year growth of 12.4%; a continued improvement in retention rates with monthly churn down to 1.3%
• ARPU increased 0.5% year on year, despite regulatory pressures (3.1% when restated for regulation)
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