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Tuesday, September 28, 2010

Everything Everywhere announces quarterly results and talks about its plans

Everything Everywhere, the company that runs T-Mobile (UK) and Orange (UK), is holding an Investor Conference in London today. It says its integration of the two networks is running ahead of plan, with savings of at least £3.5 billion expected.

Its quarterly results – the first since the two companies merged – show contract customer growth of 8.6% year-on-year, with 267,000 net additions in the quarter. The overall customer base is up 3.4% on the previous year to 27.9 million. Mobile service revenue for the period was £1.56 billion and EBITDA was £309m; both fell due to a cut in mobile termination rates. The number of fixed-line Home customers also fell. The company says it's aiming for double-digit cashflow CAGR from 2010 to 2014 and expects to achieve an EBITDA margin of 25%+ by 2014.

Tom Alexander, Chief Executive Officer of Everything Everywhere, said "Everything Everywhere has made rapid progress in the six months since incorporation, with a strong leadership team in place and a clear strategy based on transforming the market through network leadership. We have identified in excess of £3.5bn of synergies, allowing us to further invest in our networks and building our customer offer for both today and tomorrow. Our aspiration is to give people instant access to everything everywhere and with the launch of national roaming next week - enabling our customers to access what matters to them over two national networks – we’re well on our way".

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Author: The Fonecast
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