Trilogy Q2 results report strong growth for 2degrees

  • Strong growth in mobile postpaid subscriber base, increasing by 8% compared to June 2020.
  • Postpaid Service Revenue up by 5% in the quarter compared to the same period last year.
  • Broadband customers increased by 19,000, or 16% compared to June last year driving a 25% increase in fixed revenue.
  • Service revenues increased NZ$14m or 10% in the quarter over the same period last year.
  • Mobile subscriber market share is estimated at 24%.
  • Mobile network reaches 98.5% of the population, with 1,812 sites as of June 2021.

(*all data at June 30, 2021 as compared to June 30, 2020 and is in NZ$, prepared in accordance with US GAAP.)

In results released by Trilogy International Partners Inc. (Trilogy) for the first half of the current year, 2degrees has again demonstrated strong growth in the face of continued restrictions to international travel and the uncertainty of a global pandemic.

The company lifted service revenue from NZ$133 million in Q2 2020 to NZ$146 million in Q2 2021, an increase of 10%, primarily due to growth in broadband revenues driven by the larger broadband subscriber base and increases in broadband ARPU as well as growth in postpaid subscriber base.

2degrees CEO Mark Aue said “Our half-year results showed growth in revenues continuing to run ahead of overall market growth, with our mission of ‘Fighting for Fair to Make New Zealand a Better Place to Live’ resonating with customers across the business and consumer markets, and across our mobile and broadband offerings.

“Total connections continue to track over 1.6 million and remain strong in light of ongoing travel restrictions and the closure of New Zealand’s border. Postpaid customer growth was especially strong at 8% although our prepaid customer base continues to be impacted by government restrictions on inbound travellers.

“We have continued to progress our plans to grow in the business market and our focus has been reflected by an increase in both business mobile and broadband customers; results we are extremely proud of.

“This reporting period includes our continued investment to upgrade our 4G network and build a world-class 5G network for New Zealanders. The partnership between 2degrees and the globally recognised market leader in mobile networks, Ericsson, will deliver 5G sites in central Auckland and Wellington in 2021. Our plans to expand across New Zealand are well on track,” Mr Aue said.