New Zealand's 2Degrees Shrinks Annual Losses
Published on: 22nd Jun 2014
Note -- this news article is more than a year old.
New Zealand's smallest mobile network operator, 2Degrees has continued to shrink its annual losses, five years after it launched its services.
The company recorded a net loss of NZ$35.9 million for the previous year, down on the loss of NZ$45.2 million a year earlier.
However, EBIDTA, the underlying measure, continued to record a profit, of NZ$35.3 million, up on the NZ$3.8 million reported in 2012, when the company first made a positive EBITDA.
Revenues also rose, by 21 percent to NZ$263.1 million.
The company estimates that its share of the country's mobile revenues now stands at 21 percent, although it has not confirmed the customer base numbers.