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

22 Aug 2014

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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