- Strong Customer and Revenue growth year on year
- Company hits EBITDA break-even
- Significant agreement to acquire 02 Ireland
Thursday 1st August 2013 – Three, Ireland’s fastest growing mobile operator, has announced it is now EBITDA positive for the first time since entering the Irish market. The announcement comes as Three’s parent company, Hutchison Whampoa Limited (HWL), published its results for the first half of 2013.
Three reported it reached EBITDA break-even for the 1st half of 2013, compared with a loss of €15m in the same period last year.
Three continues to win customers over its incumbent competitors with its active customer base increasing by 18% year on year.
In June 2013, Three Ireland entered into an agreement with Telefonica to acquire O2, Telefonica’s mobile business in Ireland, for €780 million with an additional deferred payment of €70 million payable dependent upon achievement of agreed financial targets. The completion of this transaction is subject to competition approval by the relevant regulatory authority.
Commenting on the results Robert Finnegan, CEO Three said: “These interim results highlight yet again the progress Three is making in the Irish mobile market. The milestone of EBITDA break-even is an important achievement for the business. Coupled with our continued growth in market share in a stagnant market, this reflects our commitment to offering value and innovation to our customers, which is ultimately giving us the edge over our competitors.”
Hutchison Whampoa Limited (HWL), a renowned multinational conglomerate committed to innovation and technology, which operates a number of industries across the world, including ports, energy and telecommunications, today published its global results. For details, please visit www.hutchison-whampoa.com.