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H3G H1 2011 results: UK strengthens, Italy weakens - Venture Insights

Report Overview

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H3G H1 2011 results: UK strengthens, Italy weakens

PublisherEnders Analysis.
Publish Date August 8, 2011
Sector Fixed Line (Internet and Voice), Mobile and Wireless Technology.
Company Carphone Warehouse, EE, Hutchison 3G, vodafone.

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After strong underlying improvements in growth and profitability in 2010, in H1 2011 H3G Europe’s service revenue growth was steady at 3% and margins only slightly improved to (underlying) EBIT breakeven

In the UK, service revenue growth accelerated to 7% (from -1% in H2 2010), with EBIT maintained at about breakeven, as the UK company’s ongoing strong contract subscriber growth fed through

Italy suffered roughly the opposite fate, with service revenue growth falling to -8%, as its recent subscriber losses fed through, and EBIT remained firmly negative