Everything Everywhere’s overall customer base has fallen since 2010 as it lost prepay users but added 236,000 contracts. The joint venture reported its Q2 and H1 2011 results today (27 July).
The company’s total customer base stood at 27.54 million at the end of the second quarter, down from 27.9 million in the same period last year. At the end of Q2 2011, the company had 12.34 million contract customers – up from 11.46 million a year earlier.
Meanwhile, prepay users were 14.46 million compared with 15.6 million in Q2 2010, which Everything Everywhere claimed was due to customers migrating to contracts.
Revenue for the period was £1.66bn, slightly down from Q2 2010’s £1.72bn figure. Profit for the first half was £582m, down from £632m in H1 2010.
Everything Everywhere said it had achieved a synergy capture of £57m in H1 2011, and £203m cumulatively since the joint venture inception, which is ‘ahead of target’.
The company saw its best quarter ever of smartphone sales, with 85% of new contract customers opting for smartphones – up 84% from Q1 2011 and from 64% year on year.
Meanwhile, Everything Everywhere reported it had sold more iPhones than any other UK operator in the final week of the second quarter.
Contract churn fell to a record low at 1.1%
Everything Everywhere CEO Tom Alexander said: ‘The first half of 2011 was a period of good progress for Everything Everywhere. Leveraging our unique strengths and market leadership, we are delivering on our strategic plan set out in September 2010 and are ahead of plan with our synergy capture. We are investing in building the best network experience for our customers and in creating platforms for growth.’