O2 announces 2008 year-end results

Telefonica O2 (NYSE: TEF) have announced their 2008 year-end results – a selected summary below (in a word, they are VERY good), and then a link to the full PR:

• Telefónica Europe met its 2008 financial targets at the top end of guidance
• Total customer base up 9% to 46 million
• Best selling device iPhone tops 1 million sales in UK
• O2 outperforms UK market yet again in difficult economic times with over 10% growth in both revenues and OIBDA
• Customer satisfaction riding high – churn continues to fall to record levels while J.D. Power and Associates name Telefónica O2 UK #1 network operator in mobile pre- and post-pay, fixed and mobile broadband

The UK business turned in yet another outstanding performance with double digit year-on-year growth and net mobile additions in the year up 45.3% reaching 1,087,866. In Q4 we added 499,000 fixed and mobile customers and ended 2008 with a total customer base approaching 22 million (including Tesco Mobile), representing growth of 7.5% year-on-year.

This great performance in the UK was fuelled by four key areas:

• Number one in customer satisfaction – evident in lowest ever churn levels;
• Our SIM-only Simplicity tariff, which accounted for approximately a quarter of new consumer contracts and now represents over 10% of our consumer postpay base;
• The success of our products at the top end of the market, including Blackberry (NSDQ: RIMM) and iPhone;
• The success of our broadband proposition where sales in 2008 accelerated four-fold to a customer base of more than 340,000 while delivering high levels of customer satisfaction that resulted in being named as No. 1 supplier by JD Power in fixed and mobile broadband.

The full PR, with a lot more words and numbers, is here.

[Via: O2.co.uk]