EE posts steady results for ‘year of 4G’

Financial news

EE posts steady results for ‘year of 4G’

Jennifer Scott

EE today posted steady numbers for its full-year 2013 results and gave a positive message to investors for 2014.

The mobile operator reported service revenues of £5.7bn for the 12 months – down 3.7% year on year when regulatory charges were included, but showing no change from 2012 when they were excluded.

EE store.jpg

Turnover came in at £6.5bn for the whole of 2013, which was a drop of 2.6% from last year. However, EE’s Ebitda (earnings before interest, taxes, depreciation, and amortisation) profits were up 10.1% year on year to £1.6bn.

Customer numbers were strong, having added 756,000 new users across the year. EE’s 4G customers reached two million after its first full year offering the faster data connections and the company revealed a surge in interest during the fourth quarter, with 816,000 customers being added in the three-month period alone.

The operator is now also playing in the broadband market and was pleased with its performance, with fourth-quarter revenue up by 12% marking the eighth quarter of growth in a row.

“We successfully executed our strategy – growing our pay monthly base, delivering our targeted cost savings and achieving our best margin yet, all while cementing EE’s position as the UK’s best network for consumers and businesses alike,” said Olaf Swantee, chief executive officer of EE.

“2013 was the year of 4G, with two million customers enjoying the benefits of superfast connectivity on Britain’s most awarded network.”

Yesterday, EE touted a new focus on the commuter market, revealing it already covered 18 airports in the UK with its 4G network and was set to invest into coverage for train lines between London Euston and Birmingham New Street, Manchester and Liverpool, and London Victoria and Brighton.

EE also plans to build a 4G network for passengers travelling to France on the Eurotunnel, set to be complete by late summer.


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