UK mobile network operator EE (formerly Everything Everywhere) has announced its financial results for 2012, describing it as a year of ‘solid commercial momentum’. It’s made a pre-tax loss of £249 million, more than double its 2011 loss of £113 million. Earnings were £1.41 billion, slightly down from the 2011 total, while revenue was down 1.9% to £6.66 billion.
Service revenue for the past 12 months was £5.95 billion, down 2.6% year-on-year, although EE says this would have been a 2.7% increase excluding the impact of regulatory cuts.
Net ‘pay monthly’ customer numbers increased by 752,000 for the year, which is 15% less than Everything Everywhere’s 2011 figures. 201,000 post-pay customers joined in the final quarter of 2012 - which is when EE launched its 4G services - compared with 313,000 in Q4 2011.
The company notes that 52% of its customer base now have post-paid contracts, with smartphones accounting for 94% of new post-paid connections. Over three-quarters of all EE ‘pay monthly’ customers currently use smartphones.
Specific figures for 4G connections weren’t released.
Olaf Swantee, Chief Executive Officer of EE, said “In the past year, we delivered solid financial performance, underpinned by good progress integrating the business and success in attracting high value customers. At the same time, we built a strong platform for growth, launching a new company, new network, new customer brand, new retail estate and being the first to provide UK consumers and businesses with 4G mobile services alongside fibre broadband.”