Operator makes highest number of additions in the first quarter for four years, as it also returns to positive profit growth
O2 added 251,000 contract customers in the first three months of this year – its highest number of net additions in the first quarter for four years. This was also up 13 per cent from Q1 2012.
It now has 12.15 million contract customers, representing 53 per cent of its total mobile customer base, up three per cent year-on-year.
However, O2 did lose 204,900 prepay customers, with that base now standing at 10.76 million subscribers. Overall, O2’s total mobile customer base now stands at 22.9 million subscribers.
Revenues totalled £1.365 billion for the quarter, down 4.8 per cent year-on-year. Excluding the impact of Mobile Termination Rates and roaming regulation, O2 said total revenue for the quarter would have only declined by one per cent yearly.
Mobile service revenues fell 7.3 per cent to £1.28 billion. However, the year-on-year trends improved for the second consecutive quarter, as the figure was down 8.5 per cent in Q4 2012.
Churn improved o.1 percentage points yearly and sequentially to one per cent. OIBDA was £287 million, up 3.1 per cent from Q1 2012. O2 said this was driven by an increasing customer base and strong cost management.
O2 UK CEO Ronan Dunne (pictured) said: “This is another set of strong results that demonstrates our sustained commercial momentum in a highly competitive market. Solid trading activity and continued successful management of customer loyalty is helping us continue to attract and retain large numbers of customers every day.”