Three delivers growth in revenue and customer base in Q3
| Category | Q3 2022 | Q3 2021
|
% Variance |
| Total Revenue (£m) | 656 | 614 | +7 |
| Total Margin (£m) | 396 | 358 | +11 |
| Capex (£m) | (244) | (191) | +28 |
| Net ARPU (£) | 13.05 | 12.89 | +1 |
| Net AMPU (£) | 11.67 | 11.40 | +2 |
| Active Customer (‘000) | 10,320 | 9,621 | +7 |
| Active Contract Customer (‘000) | 8,332 | 7,951 | +5 |
| Registered Contract Churn (%) | 1.5 | 1.2 | +0.3 |
Highlights:
- Total Revenue growth of 7% to £656m (Q3 2021: £614m) driven by customer base increase
- 11% margin increase to £396m (Q3 2021: £358m) as a result of customer growth and supporting initiatives
- Active customer base increased by almost 700,000 or 7% year-on-year to 10.3m (Q3 2021: 9.6m)
- Contract customers grew 5% to 8.3m (Q3 2021: 8m) primarily driven by B2B and SMARTY
- Capex increased to £244m (Q3 2021: £191m) due to the phasing of programmes, as rollout of 5G and 4G network enhancements continue
- Continue to progress IT transformation programme with staff training and user trials underway as we prepare for full launch
- Ongoing development of Three Business proposition in the quarter, including launch of Business Broadband and continuing promotion of market-leading Adapt product
Robert Finnegan, Chief Executive of Three UK, said:
“Momentum across Three UK has continued in Q3, demonstrated by the strong performance that we have achieved across our financial metrics. It is clear our strategy to improve our network is delivering, as more individuals and businesses are choosing Three UK as their preferred network.
“However, our returns are below our cost of capital and EBITDA remains below capex. Therefore, for Three to continue investing in the UK’s digital infrastructure, structural change is needed to the industry.”
