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Spark New Zealand : FY revenue down 2.6%, mobile subs exceed 2m

08/22/2014 | 05:41am US/Eastern

Spark New Zealand (formerly known as Telecom New Zealand) has reported total revenues of NZD3.638 billion (USD3.04 billion) for the twelve months ended 30 June 2014, a decrease of 2.6% from NZD3.735 billion the previous year, mainly due to the ongoing decline in legacy fixed line products. Mobile services turnover grew by 6.0% year-on-year to NZD965 million, as wireless customers rose 10.5% from 1.815 million to 2.006 million over the twelve month period. At mid-2014 post-paid mobile customers totalled 985,000 (up 7.1%) and pre-paid users stood at 1.021 million (14.1%). Group EBITDA reached NZD936 million for the full-year, up 7.1% year-on-year, while adjusted EBITDA was 4.0% lower compared to FY 2013. Net earnings from continuing operations rose 19.6% to NZD323 million, although excluding the impact of a one-off restructuring charge from the prior-year figures, FY14 adjusted net earnings from continuing operations were down 7.7%.

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