April 29, 2014

EE announces strong quarter 1 results

Neil EE
Neal Milsom, Chief Financial Officer of EE quoted below.

It’s no surprise that EE has had a good quarter, what with its 4G network continuing to storm ahead of the competition, but the company’s results statement reveals details of just how well it’s doing.

The network has added 889,000 4G customers this quarter alone, bringing the total up to 2.9 million and leaving EE on track to exceeding 6 million by the end of the year. The network has also reached a coverage milestone, by bringing 4G to 200 towns and cities. 4GEE now covers 72% of the UK population, which amounts to over 46 million people.

The network also took the opportunity to announce that it’s been named Network of the Year at the 2014 Mobile News Awards and been ranked the UK’s number one network for voice, text, mobile internet and reliability performance by RootMetrics.

Neal Milsom, Chief Financial Officer of EE, commented: “We are delivering strong, consistent commercial performance and continue to successfully create value through our award winning network. We signed up nearly 900,000 4G customers in a single quarter, with over one in four new customers opting for EE’s exclusive double speed 4GEE Extra plans. In line with our vision to provide the best network and best service, we’re also further improving customer service across all channels to support our long term growth.”

EE has also made strides in the business sector, with 5,100 medium and large organisations added to 4GEE to date. The network’s operating revenue has increased by 0.8% yoy (year over year) and its MVNO base has increased by 3.2% yoy to 3.66 million, bringing the total number of EE connections up to 30.7 million.

The network has seen the addition of over 214,000 postpaid mobile customers in Q1 and over 20,000 fixed broadband net additions, which is its best performance for that in over 6 years.

EE has also revealed that social media use has increased dramatically on its 4G network, with 21% of data being used for that purpose in March this year, compared to just 12% in March of 2013.

All in all then EE is doing every bit as well as we’d expected, with 4G driving most of the network’s growth. Whether it will be able to sustain this momentum over the next few years once the 4G playing field starts to level out remains to be seen, but for now EE is racing ahead.

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