TPG adds 72000 subscribers, surpasses $400m profits

TPG Telecom lifts its full-year profit by nine per cent to $413.8 million but cuts its dividend

iiNet managed an 80-cent increase in its NBN ARPUs to $72.60, which it maintained across the financial year.

In more good news for TPG, its revenue strengthened over the 2017 financial year, and lifted nearly 4 per cent on FY16 to $2.5 billion. Underlying EBITDA was $835 million, up 8 percent from $775.3 million a year ago.

Its earnings before interest, tax, depreciation and amortization (EBITDA) increased 5 per cent on the prior year, to $890.8 million.

Its corporate segment brought in AU$743 million revenue, driven by strong data and internet sales and margin expansion.

The company said it now expects EBITDA for its fiscal year ending July 2018 of between A$800 and A$815 million, slightly lower than the A$835 million it reported in the latest fiscal year.

TPG is required to utilise the allocated spectrum to provide nationwide street level coverage for 4G within 18 months from the start of the new spectrum rights, the Info-communications Media Development Authority said last December, when awarding the spectrum to the newcomer.

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Mobile subscribers decreased by 30,000, affecting both TPG and iiNet.

TPG's capital expenditure spend during FY17 was AU$576.3 million, with AU$124.4 million spent in the Singapore spectrum auction, AU$73.1 million in the Australian 1800MHz auction, and AU$10 million in the Australian 700MHz auction.

TPG has announced that its AU$1.9 billion Australian mobile network build-out has made "strong progress", with the network expected to be complete across Sydney, Melbourne, and Canberra by mid-2018.

The market had been anxious about lower margins on the due NBN business.

"The fixed-line residential broadband margin erosion faced by the industry in light of the NBN underlines the importance of the group's strategy to take advantage of the valuable assets it has assembled to inject itself into the industry's mobile sector, vastly expanding the addressable revenue pool for the group into the future", TPG said in its result commentary.

TPG's share price has fallen more than 80 percent since peaking in July a year ago as it struggles for profit growth.



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