UK operator group VMO2 has released its latest set of financials which show total revenue for 2024 decreased 2.1% YoY to £10,680.5 million, while Q4 total revenue fell 4% YoY to £2,716.2 million.
For the full year the telco reported that total mobile revenue decreased 4.4% to £5,687 million which it said was due to a 15.4% reduction in low margin handset revenue. Consumer fixed revenue increased 2.3%, while B2B fixed revenue decreased 17.5% “primarily due to a reduced level of long-term leases being entered into compared to 2023.” 2024 adjusted EBITDA meanwhile decreased 3.7%.
For Q4, total mobile revenue decreased by 2.4%, and adjusted EBITDA decreased 7.0% YoY.
VMO2 was keen to talk up subscriber growth for the period. The fixed customer base grew by 9,300 in 2024, including 9,900 net additions in Q4. 21,300 net broadband connections were added across the full year, with 12,000 occurring in Q4.
