Revenue and customer base up, churn down for UK’s fastest 5G network

Three UK have reported strong full year results including the most significant growth in contract customer base since 2012 – adding more than half a million subscribers to bring the total to 8m.

Strong growth in contracts along with new revenue from SMARTY, Home Broadband and Business saw overall revenue up 4% to £2.44bn. EBITDA grew by 10% YOY to £609m due to better margins from new lines of business, coupled with ongoing focus on cost control.

Three UK now claim to cover 99% of the UK outdoor population with either 3G or 4G network and to carry 28% of mobile data traffic in the country. Continued rollout of 5G takes them to more than 2500 sites live in 370 towns and cities, covering one third of the UK population. Developing the 5G spectrum portfolio has seen £280m spent on low frequency spectrum delivering what Ookla say is the UK’s fastest 5G network.  

Robert Finnegan, Chief Executive of Three UK, said:
“I am really pleased with this set of results which have delivered our strongest customer contract growth since 2012. We are also seeing strong performance in new areas of our business including SMARTY, B2B and Home Broadband."

He also went on to repeat his view that the "UK market with 4 operators continues to remain dysfunctional and requires a structural change to improve the overall quality of infrastructure that UK customers should expect.”