2degrees posts first positive EBITDA since Aug-09 launch

28 Jun 2013

New Zealand mobile operator 2degrees has generated positive EBITDA on an annual basis for the first time since it launched in August 2009. Business Desk reports that the firm’s EBITDA for the twelve months ended 31 December 2012 was NZD4.4 million (USD3.4 million), compared to a loss of NZD38 million in the year ago period. According to accounts lodged this week with the Companies Office, 2degrees’ net loss fell to NZD45.2 million from NZD86.6 million in 2011, while revenue rose almost 40% year-on-year, to NZD213.6 million.

New Zealand, Two Degrees Mobile (2degrees)