Wind Tre reports first financial results, with pro forma EBITDA up 6.8%

24 Feb 2017

Newly merged Italian fixed and mobile operator Wind Tre has reported its first set of financial results, with revenues for full-year 2016 up 1.3% year-on-year on a comparable basis to EUR6.49 billion (USD6.97 billion). EBITDA climbed 6.8% in 2016 to EUR2.18 billion and the EBITDA margin rose from 31.9% in 2015 to 33.6% last year. Revenues from mobile services increased to EUR5.36 billion in 2016, from EUR5.26 billion a year earlier, while fixed line revenues dropped 1.8%, from EUR1.15 billion to EUR1.13 billion.

In operational terms, Wind Tre was serving 31.3 million mobile subscribers at end-2016, up from 31.2 million twelve months previously, to give it number one spot in Italy’s wireless market ahead of Telecom Italia (TIM) and Vodafone Italy. Mobile ARPU increased from EUR11.3 a month in 2015 to EUR11.5 last year, with 19.2 million customers now subscribed to mobile data services, up from 18.5 million at the end of 2015. Mobile data ARPU climbed to EUR5.6 a month, from EUR5.3 a month in 2015. While there was a slight increase in the number of fixed line customers served directly by Wind Tre, from 2.40 million at end-2015 to 2.45 million a year later, there was a decline in the number of users served indirectly, which led to an overall decrease in the fixed subscriber base, from 2.75 million to 2.69 million.

VimpelCom subsidiary Wind Telecomunicazioni and CK Hutchison unit 3 Italia were given clearance to merge their operations last year, with the rebranded Wind Tre officially launching at the start of this year. The enlarged firm has set aside EUR7 billion to invest in the expansion and upgrade of its infrastructure.

Italy, 3 Italia (H3G Italia), WINDTRE (incl. Wind and 3 Italia)