Preliminary results for the 12 months to 31 March 2013 (FY13)
2nd quarter of positive net adds and return to y-o-y revenue growth in Q4 (+1.4%)
150,000 TV subscribers added, taking base to 230,000
Underlying EBITDA margin up strongly at 21.1%
Full-year dividend up 15.6% to 10.4p and reiterating commitment to 15% growth in FY14
On track to deliver medium term targets of 25% EBITDA margin and 2% revenue CAGR
FY 2013 financial headlines
Total revenue £1,670m (FY12: £1,687m)
On-net revenue +7.9% y-o-y; Corporate revenue +1.9% y-o-y
Underlying EBITDA up 11% to £352m (FY12: £317m)
Underlying earnings per share up 19.8% to 20.6 pence (FY12:17.2 pence)
Headline EBITDA £290m (FY12: £326m)
Net Debt reduced by £41m to £393m (FY12: £434m)
Statutory profit before tax £122m (FY12: £127m)
Headline earnings per share 14.9 pence (FY12: 18.0 pence)
Q4 operating highlights
Revenue £427m (+1.4% y-o-y); On-net ARPU £26.37 (+3.5% y-o-y)
10,000 total net adds; fully unbundled net adds 64,000
Further reduction in on-net churn to 1.5% (Q4 FY12: 1.7%)
230,000 TV subscribers, growing by 12,000 per week as we exited the year
23,000 Mobile customers added, taking base to 175,000
31% y-o-y growth in data services revenue in TalkTalk Business
Dido Harding, Chief Executive of TalkTalk commented:
This has been a momentous year for TalkTalk, which is now a fundamentally better business than it was three years ago. In the year we have returned our customer base to growth, successfully launched TV and mobile handsets, grown TalkTalk Business, and returned to year-on-year revenue growth in the final quarter. We have the UK's fastest growing new TV business and our customers clearly appreciate its comprehensive content and value for money pricing. We will continue to invest in growth and remain confident that having more customers who buy more products and who stay with us longer, puts us firmly on track to achieve our medium term financial targets.
