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UK Based EE Reports 3% Fall in Quarterly Revenues As Customer Base Shrinks
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UK based mobile network, EE (formerly Everything Everywhere) has reported a 3 percent fall in its third quarter revenues as it was hit by lower mobile termination rates and roaming revenues.
The company generated revenues of £1.5 billion for the three months to the end of September. Underlying service revenue, which excludes the impact of regulated MTR and roaming cuts, would have grown by 3.1%.
As a 50:50 joint venture between Deutsche Telecom and France Telecom, the company does not report net profit results.
The company saw its net customer base shrink by 2.1% to 26.91 million, although the mix of pre and post-paid customers improved as it added more contract customers but continued to loss prepay subscribers.
Smartphone penetration reached 74% of customer base (Q3 2011: 65%), increasing non-messaging data revenue to 31% of ARPU; non-voice revenue (data and messaging) at 48% of ARPU.
Neal Milsom, Chief Financial Officer of EE, commented: "We are delivering solid revenue performance and successfully attracting high value contract customers, while creating growth opportunities through our new superfast EE brand that will soon launch the UK's first 4G mobile services."
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