Pointers at Glance
- The financial results of TPG Telecom, an Australian fixed and mobile operator, show that the net profits jumped by 114%.
- Detailed results and the operational side stats are mentioned in this article.
Australian fixed and mobile operator TPG Telecom’s financial results show net profits increased by more than 114% YoY, reaching A$167 million, driven by the sale of the tower assets of the operator.
The results showcased service revenue increased by 0.7%, reaching A$2,190 million in the first six months of 2022. Earnings before interest, tax, depreciation and amortization (EBITDA) of Vodafone’s Australian parent company went down by 5.3% compared to the same period last year, reaching A$837 million. This drop seems to have included a A$35 million organizational restructuring cost to simplify operations. Excluding the costs, EBITDA decreased by 1.4% in H1 2022 YoY.
Net profits increased by more than 114% YoY, reaching A$167 million, significantly driven by the sale of the operator’s tower assets for A$110 million.
On the operational side, mobile subscribers grew less than 1% YoY with 135,000 net adds in H1 2022, while ARPU went up by 1%, driven by higher international roaming charges in postpaid.
CEO Iñaki Berroeta said that their solid competitive offering had driven growth in their mobile and fixed wireless subscriber base, positioning them to deliver improved performance as they complete the transition to a growth grounding into the second half.
The CEO also stated that as the market for international visitors continues to recover, they expect the positive momentum to continue and look forward to welcoming more customers to their famous family of brands.
He also added that TPG Telecom is transitioning to a new phase of growth following a prolonged period of market uncertainty and expects earnings momentum to accelerate in the second half of Financial Year 2022 with the full run-rate benefit of a higher Mobile subscriber base, targeted on-net strategies and tactical pricing to adapt Fixed product margins.
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