2degrees narrows losses in FY 2013

24 Jun 2014

The New Zealand mobile operator 2degrees has reported a net loss of NZD35.9 million (USD31.3 million) for the year to 31 December 2013, down 20% on the previous year’s loss of NZD45.2 million. Revenues rose 21% to NZD263.1 million, while EBITDA climbed from NZD3.8 million in 2012 to NZD35.3 million last year. 2degrees was the last to launch of New Zealand’s three cellular operators, though it has been closing the gap on its rivals Vodafone and Telecom Mobile, and accounted for around 28% of the country’s six million subscribers at the end of March 2014, according to TeleGeography’s GlobalComms Database.

New Zealand, Two Degrees Mobile (2degrees)