Report Overview
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European mobile in Q1 2020 – Robust until recession
- PublisherEnders Analysis.
- Publish Date June 17, 2020
- Sector Mobile, Telecom.
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European mobile service revenue growth strengthened very slightly to -0.3% this quarter but, with many positive and negative factors at play, it would be wrong to conclude that we evidenced a convincing improvement in momentum
Most operators have reiterated their financial guidance in spite of COVID-19 but there is caution from Vodafone and those exposed to sports rights (BT and Telefonica)
The outlook benefits from continued lockdown measures (reducing churn and spin-down) and the annualisation of some financial drags from the middle of next quarter. However, competition in Spain remains intense and the sector is exposed to any economic downturn
Contents
Reported and underlying revenue growth
Country analysis
Appendix
List of charts/tables
Service revenue growth by market
Reported mobile revenue growth—top 5 European markets
Service revenue growth by operator group
Mobile service revenue growth versus peers
Contract net adds in top 4 European markets
German converged customer net adds (000)
T-Mobile versus Vodafone contract ARPU growth
Anecdotal evidence of changes in data traffic
Europe average mobile network speeds (Mbps)
Offers to customers in Germany
Offers to customers in Spain
Offers to customers in France
Offers to customers in Italy
Offers to customers in the UK
COVID-19 related financial guidance changes (or lack thereof)
Europe ‘top 5’GDP vs service revenue growth
Residential market shares (including pay TV)
Total market shares (including pay TV)
Recent and forthcoming spectrum auctions
Spectrum auction results in Germany
IFRS 15 effect of indirect and direct mobile contract distribution
UK operator performance: neither service nor total revenue growth are perfect measures
German operator performance: neither service nor total revenue growth are perfect measures
Approaches to Huawei across Europe
Vodafone tower/network share deals
Intra-EU calling prices –Euro cents per minute prior to cuts
Potential drag from out-of-contract customers spinning down
Contract net additions (000)
Service revenue growth
Reported mobile service revenue growth by operator
Contract net additions (000)
Service revenue growth
Service revenue growth by operator