EE reports strong results for the first half of 2014
It’s probably no surprise that EE is doing well, after all it was the first network to roll out 4G and is still leagues ahead of the competition in a number of key areas, most notably 4G coverage. But if you’re wondering exactly how well EE is doing then the interim results report for the 6 months ended 30th June 2014 may be of interest.
The highlight of the report is arguably the fact that EE’s 4G customer base has doubled in the first half of the year, bringing it up to 4.2 million in total. It’s also up a record 1.3 million or 45% quarter-on-quarter in Quarter 2 alone, so it’s growing at a remarkable pace and well on track to exceeding 6 million by the end of the year.
EE’s ability to bring in more customers is hardly surprising though, not only does it have the aforementioned coverage, but as well as its premium 4GEE Extra contracts (complete with double speed 4G), it’s also hoping to attract more value-conscious customers, thanks to dropping its prices down more in line with those of 3G.
Indeed it’s now possible to get a 4G contract with a phone from just £13.99 per month and EE’s even brought out its own devices, such as the EE Kestrel, to further reduce the price of 4G hardware.
Other highlights of the report include the fact that its average revenue per user has grown by 2.7% year-on-year and the fact that almost a third of both new and returning customers are opting for EE’s 4GEE Extra plans which include double speed data.
EE’s business and fixed line services are reporting growth too and the network is likely to retain its strong position for the foreseeable future, as it continues to expand its coverage, as well as having announced plans to bring double speed 4G to an additional 20 towns by the end of the year.Olaf Swantee, Chief Executive Officer of EE, commented: "Today’s results demonstrate that consumers and businesses are responding to our strategy to provide the UK’s biggest, fastest and most reliable network. We are delivering on our goals to rapidly transition our pay monthly customer base to 4G, generate significant merger cost savings and improve our EBITDA margin performance.” You may like to see how 4G will be getting even faster!