| Solid result against industry headwinds; positive momentum into 2022 - 24/02/2022 |
| TPG Telecom |
| TELECOM/ICT Operators and Service Providers | Asia & Pacific | Australia |
| TPG Telecom Limited released its results for the financial year ended 31 Dec. 2021 (FY21), reporting EBITDA of $1,731 million and declaring final dividend of 8.5 cents per share. “2021 was a year of significant progress as we unified our operations and demonstrated strong operating and financial discipline to navigate the challenging COVID-19 operating environment and position ourselves strongly for improving market conditions”, Chief Executive Officer Iñaki Berroeta said. Financial performance Execution of merger synergies and disciplined financial management reduced the impact of market headwinds including COVID-related border closures impacting mobile customer volumes, and margin erosion in fixed broadband from legacy customers transitioning to NBN services, higher NBN wholesale costs and the introduction of the Regional Broadband Scheme. TPG Telecom recorded a net increase in mobile subscribers since November 2021, adding 33,000 mobile subscribers, as international travelers began to return to Australia. “We have been encouraged by the uptick in mobile customer numbers as international travel returns and we are optimistic about the year ahead as COVID impacts lessen,” Mr Berroeta said. The group ended the year with 5.02 million mobile customers, down 4% on the year prior, mostly due to COVID-related restrictions on international travel. |
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