O2 total revenue for the full financial year of 2017 rose 2.2per cent to £5.72 billion despite customer base dropping.
O2 stated the increase was on the back of higher handset revenue, stronger mobile services revenue trends. Non-mobile revenue also played a factor such as smart metering and ICT solutions.
The total mobile base now stands at 25 million (down from 25.5 million year-onyear) in the UK of which 12.9 million are 4G.
Adding MVNO customer from Tesco Mobile, Sky Mobile, and Lycamobile – O2’s base reached 32.2 million.
Churn was one per cent for the year and quarter. Total revenue for Q4 reached £1.53 billion a 3.2 per cent year-on-year increase.
Mobile service revenue is also up one per cent for the year (1.1 per cent for Q4) due to higher subscription revenues and further MVNO growth despite the impact of roaming regulations.
O2 significant B2B contract wins including Amey, Tesco Bank, Next, Mercedes Benz and The Home Office. Capital expenditure totalled £724 million for the year (£198m in Q4) as the company continues its investment of £2 million a week.
O2 chief executive officer Mark Evans said: “In 2017 we continued to invest significant sums in our network. “As a result, we maintained our position as the UK mobile operator with the highest customer loyalty and satisfaction.
“Looking forward, we will continue to build for our future by doing more and investing more for the benefi t of our customers.
“Our efforts are driven by the belief that mobile is one of the biggest opportunities this country has to strengthen its economy and support society at large. We’re proud to be its biggest champion.”