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O2 Q3 revenue rises 7.9 per cent to £1.535 billion

Manny Pham
October 31, 2018

The operator reported 32.3 million customers, over two thirds are contract customers

O2’s latest revenues for Q3  have seen a year-on-year increase of 7.9 per cent from £1.436 billion to £1.535 billion.

O2 claims it maintains its lead as the UK’s largest operator with total customer base now standing at 32.3 million including MVNOs – 120,000 customers were added in the quarter.

Over 20.9 million customers are on contracts, a two per cent increase year-on-year.

Churn excluding M2M was at 1.0 per cent. Active Prepay customers grew by 37,000 during the period.

Operating Income Before Depreciation and Amortisation (OIBDA) reached £414 million up £40.5 million year-on-year. This was partially supported by annual licence fee payments and a commercial settlement.

CapEx was £192 million in the period as the operator continues to invest in 4G coverage and prepares for 5G. O2 states it invests £2 million per day to improve services.

O2 UK CEO Mark Evans said: “Q3 saw us deliver strong commercial performance with continued growth in revenues and profitability as more customers chose to join us, stay with us and spend more with us”.

“Our ongoing commitment to invest in our network includes enhancing 4G connectivity and preparing the ground for 5G.  As champions of Mobile we continue to build for the future, where Mobile is one of the most powerful opportunities to strengthen the UK economy and enrich our society”.

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