EE announces Q1 2022 earnings, closes quarter with 9.3 million 4G customers

The company shared figures regarding sign-ups, revealing that nearly 2 1000000 (1.7 1000000) new 4G customers were registered in Q1. 96% of new postpaid customers opted for the network's 4GEE Extra plans. It'south also noted that over 7,700 medium to large companies utilize the network, including the likes of Uber and GANT U.k..

EE 4G coverage in the UK is at present reported to exist 87%, with double-speed 4G accessible to 67% of the population. Growth figures and improvements made to the network has enabled EE to experiences an increase in operating revenue, which was up by 0.iii% twelvemonth-on-year to . Fixed revenue increased past 15% twelvemonth-on-yr, marking 2022 as the 13th year in a row for growth.

The total number of EE connections is now just shy of 31 million (thirty.nine one thousand thousand), increasing by 0.6% through Q1. A notable improvement seen by EE was the tablet base, which is currently riding on 59% growth year-on-year, while mobile Wi-Fi is holding potent on 25% growth year-on-year.

Finally, EE besides notes the company is the fastest growing broadband provider for the past year and has enjoyed stiff customer retentiveness with a postpaid mobile churn rate of only one.ii%. See the press release below for more than details.

EE Results for the First Quarter to 31 March 2022

Virtually 4G net adds in Europe, extending lead as Continent's biggest 4G operator; Best ever broadband net adds, now UK's fastest growing broadband provider for by year

Highlights:

Europe'due south highest 4G accept-upwards driven by network leadership and EE's sectional double-speed 4G:

4G net adds of i.7m to attain base of 9.3m, up +224% twelvemonth-on-year (yoy). 96% of new connections on 4G, with well-nigh 50% on sectional double-speed 4GEE Extra. Firmly on track to reach target of 14m 4G customers past year stop.
7,700+ medium and large companies using 4G, including Uber, GANT UK, Rotary Watches, Norfolk Constabulary and Suffolk Constabulary.
Trialled Europe's fastest 4G of 400 Mbps at Wembley Stadium. 4G population coverage now 87%, double-speed 4G to 67% of the population. Named RootMetrics® 2022 #one Uk network, Best Network at 2022 Mobile News Awards and in Apr, Ofcom's fastest mobile broadband network.
Announced three year £ane.5bn network investment programme to reach 99% 4G population and 90% geographic voice coverage by 2022 and rollout network innovations including 4G over 800 MHz, voice over 4G, micro-network technology and the UK'due south first seamless WiFi Calling service.

Improving underlying operating acquirement, with stiff growth in data and fixed revenues:

Operating revenue up 0.3% yoy excluding regulatory impacts; including regulatory impacts -one.1% yoy.
Mobile average revenue per user (ARPU) growth of +1.1% yoy (Q4 2022: +i.i%) excluding regulatory impact, and -0.5% (Q4 2022: 0.0%) including regulatory cuts.
Farther growth in mobile data (non-text) revenue, up +5 ppts yoy to 52% (Q1 2022: 47%) of ARPU.
Fixed revenue growth 15% yoy, the 13th consecutive quarter of growth.

Accelerating cantankerous-selling drives postpaid mobile and fixed client growth

Total connections up +0.6% to xxx.9m (Q1 2022: xxx.7m), including automobile-to-motorcar(M2M), Mobile Virtual Network Operators (MVNOs) and fixed bases.
Multiple Product Attach Rate1 (MPAR), which gauges average number of continued products adopted per postpaid phonation customer, up +3.6% yoy to i.22. 721k customers now on Shared 4GEE plans.
Postpaid mobile net adds of 111k including M2M. 61.5% of mobile base on postpaid plans, delivering seven times higher ARPU than prepaid. Postpaid tablet base up +59% yoy, mobile WiFi up +25% yoy and stock-still upwardly +xix% yoy. Prepaid base reduced past 195k, with revenue trend in line with industry shift towards postpaid.
Strong postpaid customer retention with churn of 1.2%, the 4th year in a row at 1.2% or below.
Britain's fastest growing stock-still broadband base for the quaternary quarter in a row with best ever cyberspace adds of 50k, revenue up +xv% yoy, driven by effective cross-selling and early success of EETV.

Neal Milsom, Chief Financial Officer of EE, commented: "We are delivering strong, consistent commercial performance by giving our customers the all-time mobile voice and data network experience in the UK. As much of the UK market now has smartphones, we are leading the charge into new growth areas by cross-selling our innovative range of connected products including 4G tablets, 4G WiFi, stock-still broadband and EETV to our existing customers."

Operating Review

During the first quarter, EE connected to execute well on our strategy to maintain commercial leadership, deliver operational excellence and create long-term value through network leadership and innovation.

We are successfully alluring customers to our superfast 4G network with a net increment of ane.7m 4G connections in the quarter, more than than any other operator in Europe. 9.3m users are at present enjoying the UK's biggest and fastest 4G network. Strong business demand for 4G continues, with over seven,700 medium and big companies on 4G. We are firmly on track to achieve our target of 14m 4G customers by year end, which will stand for well over one-half of our mobile base.

Our 4G coverage at present reaches 87% of the Uk population – over 55m people. Nosotros are the simply operator in the Britain to offer double-speed 4G, which now covers 67% of the UK population. In March, EE was awarded Consumer Superbrand condition, the youngest standalone brand to make the 2022 list.

Our Customers: Maintaining commercial leadership

Underlying operating revenue excluding the touch on of regulation, improved +0.iii% yoy, strengthened by continued postpaid, data and stock-still growth. Operating revenue including the affect of regulatory cuts was i.1% lower yoy at £1,469m.

We saw a cyberspace increment of 111k postpaid customers including M2M. Our client value mix farther improved in the quarter, with a internet increase of 53k postpaid mobile customers. Postpaid customer growth helped drive +1.1% yoy growth in underlying mobile ARPU. Postpaid client churn remains amongst the best in the manufacture at 1.2%, the fourth total year in a row at one.two% or below.

Our stock-still business organisation connected to make excellent progress, with revenue growth of +15% yoy and a internet add-on of 50k broadband customers. EE is now the UK's fastest growing broadband operator for 4 consecutive quarters, driven by effective cross-promotions and the well-received launch of EETV.

Our Company: Operational excellence to deliver the all-time network and best service

In the quarter, we were again named the number i nationwide mobile network for the 2d half of 2022, based on comprehensive independent testing from RootMetrics®. EE too won Mobile Network of the Year at the 2022 Mobile News Awards and, in April, was named as Ofcom's fastest mobile broadband network. We connected our relentless focus on network innovation. In Apr, we were the kickoff network in the United kingdom of great britain and northern ireland to launch seamless WiFi Calling on several of our most popular smartphones, including the iPhone 5c, 5s, 6 and 6 Plus and Samsung Galaxy S6.

Nosotros are making adept progress improving customer satisfaction by investing in our customer service centres, retail manor and customer loyalty programmes. Nosotros completed the on-shoring of ane,000 new client service roles a year ahead of schedule, enabling us to significantly increment the book of customer service calls handled onshore, which receive higher client satisfaction scores. We are on track to take ane,300 apprentices through our award-winning scheme by the cease of the year. We grew our Retail store catchment area by 23% yoy and introduced improved processes, grooming and tablet tills that increased our Retail aqueduct Net Promoter Score2 by 12 ppts yoy. For the 3rd yr, we were selected as a Sunday Times Meridian 25 Large Companies to Work For, with high employee appointment supporting improved service levels.

To further increment customer loyalty, we launched relevant, innovative initiatives including EE Film Club, providing digital films to customers for £1, and in April, EE Ability, giving customers a gratis portable charger that they can recharge themselves or take into our retail stores and swap for a charged one.

Our Future: Building value through accelerated cross-selling of connected products and services

Nosotros go along to monetise our leading mobile internet experience. Nearly all new and renewing customers are now selecting 4GEE plans, with almost 50% of new customers selecting our unique double-speed 4G plans. Data and messaging revenues go on to rise rapidly, reaching 62% of ARPU in Q1, against 58% in Q1 2022, with information (non-text) revenue up to 52% of ARPU compared to 47% in Q1 2022.

Our increased strategic focus on maximising connections on our network by introducing new continued products and services and cross-selling these into our existing client base is delivering for the business. This is illustrated past growth in our Multiple Product Attach Rate, which increased +three.half dozen% yoy to 1.22 connected products per postpaid vocalisation customer. This was supported by growth in mobile and stock-still, with the tablet base of operations up +59% yoy, mobile WiFi base upwardly +25% yoy and stock-still broadband base upwards +xix% yoy.

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