British broadband provider TalkTalk has published its preliminary results for the financial year ended 31 March 2019 (FY2018/19). For the twelve-month period under review TalkTalk reported a total revenue of GBP1.609 billion (USD2.04 billion), broadly unchanged from the GBP1.605 billion it recorded in the previous year. Total revenue excluding turnover from carrier and off-net services was up 2.2% year-on-year, however, at GBP1.544 billion, while on-net revenue totalled GBP1.263 billion, representing annualised growth of 3.9%.
Headline EBITDA for the telco’s most recent fiscal year stood at GBP237 million, up from GBP203 million, with this 16.7% increase said to have been driven by ‘a larger average [subscriber] base, increased fibre penetration and a materially lower cost base’. Meanwhile, TalkTalk reported a statutory operating profit of GBP47 million for FY2018/19, reversing a GBP44 million loss in the previous financial year. Although it did record a statutory loss before taxation of GBP5 million, after GBP42 million of non-headline costs associated with reorganising and simplifying the business, this too represented an improvement on the GBP100 million pre-tax loss reported for FY2017/18.
With regards to operational highlights, TalkTalk noted that uptake of fibre-based broadband connectivity had accelerated in the year to end-March 2019, with it recording 490,000 net adds for such services in the year, and a record 152,000 new fibre subscribers in the closing quarter. An overall customer base growth of 150,000 – down from an increase of 192,000 in the previous financial year – brought the company’s closing base to 4.289 million. Churn was said to remain relatively low at 1.20% in FY2018/19, while group on-net ARPU was reported to have stabilised at GBP24.98 per month, compared with GBP25.06 previously.