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O2 records customer growth despite pandemic impact

Saf Malik
February 25, 2021

Network’s customer base grew to 36.2 million connections in full-year results

Telefonica UK Limited (O2) has today announced that its customer base grew by 4.8 per cent year-on-year in its full-year results despite Covid-related losses in revenue.

The network boosted 4G services in around 180,000 postcodes and continued its 5G rollout in over 150 towns and cities across the UK.

This has resulted in a growth in the number of connections to 36.2 million.

The network’s value offerings gave £168m back to customers in 2020.

O2 has also guaranteed it will offer customers on any network the option to buy the latest tech at low monthly prices, without any airtime contract, with payment options to help spread the cost.

Products include games consoles, headphones, and smartwatches with more products to follow later in the year.

The operator’s support of the NHS is set to continue and it will connect over 1,600 vaccination centres across the country.

O2 CEO Mark Evans said: “We continue to drive value back to customers, saving them £168million in the past year alone through flexible plans that ensure that they always get the best deal.

“By focusing on value and flexibility, we have grown our customer base to 36.2million, achieving industry-leading loyalty and customer satisfaction ratings.

“As we move forward in 2021, O2 will continue to create new and exciting propositions for consumers and businesses alike, whilst we provide connectivity to power our NHS, and the nation, through this tough period.”


O2’s total revenue for the year reached £5,962 million (-4.4 per cent year-on-year) with a quarter-on-quarter improvement in the fourth quarter (-5.2 per cent year-on-year versus -9.5 per cent year-on-year in the third quarter).

The company notes that revenue was impacted by the lockdown-related decline in SMIP installation, roaming services, and other service revenues.

OIBDA decline was driven by the Covid-related decline in revenues and costs associated with the merger preparation, partially mitigated by commissions savings and strong cost control.

OIBDA for the fourth quarter increased by 2.5 per cent year-on-year on an underlying basis (a +7.1 percentage point quarter on quarter trend improvement).

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