Italian joint venture’s mobile revenue inches up on equipment sales.
Italy’s recently established mobile market leader Wind Tre this week reported a healthy 2.1% growth in first quarter revenue, driven by its fixed-line division.
Q1 group revenue increased to €1.55 billion from €1.52 billion in the same quarter a year ago, while EBITDA excluding integration costs jumped 9.7% to €517 million.
Wind Tre was formed late last year by the merger of Veon – formerly Vimpelcom – and CK Hutchison’s Italian assets, Wind and 3 Italia respectively.
"The integration process between the two companies is moving along quickly and we have already achieved considerable synergies in constructing the new group," said Wind Tre CEO Maximo Ibarra, in a statement on Tuesday.
"In addition, due to the commercial strategy of our two brands we are able to compete highly effectively with the aim of ensuring the best customer experience in the world," he said.
Fixed-line revenue increased 9.2% year-on-year to €293 million, thanks to the company’s focus on adding high-value customers, which in turn drove a 2.3% increase in service revenue, which came in at €269 million.
Wind Tre’s fixed broadband customer base increased to 2.35 million from 2.3 million a year ago.
On the mobile side, revenue inched up 0.6% to €1.26 billion on equipment sales, which grew to €210 million from €195 million. Service revenue was down 0.7% to €1.05 billion. Wind Tre’s mobile customer base stood broadly unchanged at 30.9 million, compared to 31.1 million a year earlier. ARPU was flat at €11.1 per month.