EE reports underlying service revenue growth of 2.7% yoy
EE has published its inaugural financial results for the year ended 31 December 2012, a period which saw the launch of a a new company, network, customer brand, retail estate and first with 4G in the UK.
Over the period the mobile operator notched up service revenue growth of 2.7% year on year and achieved cost savings of £369m owing to synergies achieved by the merger of operations by joint venture partners Deutsche Telekom and France Télécom,
Most importantly the firm also stated that it had Improved quality of its customer base and enhanced customer retention. This was demonstrated by solid postpaid growth with net additions of 752k (+5.9% yoy) postpaid customers; strong customer retention with four consecutive quarters of low 1.2% postpaid churn.
Olaf Swantee, Chief Executive Officer of EE, commented: “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.”