DIN-CUBE-RED-w2 Profiled in Dynamic Intelligence Network (DIN)

TalkTalk Group Full Year Preliminary Results FY12/13


  • 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(1,2) up 11% to £352m (FY12: £317m)
  • Underlying earnings per share(1,2) up 19.8% to 20.6 pence (FY12:17.2 pence)
  • Headline EBITDA(2) £290m (FY12: £326m)
  • Net Debt reduced by £41m to £393m (FY12: £434m)
  • Statutory profit before tax £122m (FY12: £127m)
  • Headline earnings per share(2) 14.9 pence (FY12: 18.0 pence)
  1. Excludes £62m of costs relating to investment in TV (FY12: excludes £9m profit on disposal of freehold property). Earnings for both years excludes related tax based on Headline effective tax rate
  2. Excludes net exceptional income (FY12: charge) and amortisation of acquisition intangibles. Earnings for both years excludes related tax, FY12 also excludes a one-off tax credit

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.

Analyst and investor presentation:
The Lincoln Centre, 18 Lincoln’s Inn Fields, London, WC2A 3ED (8.30am for 9.00am)

Dial in details:
UK and International: +44(0)203 139 4830 Replay (available for 7 days):
Participant pin code: 98541764# UK and International: +44(0)203 426 2807
Participant pin code: 639116#
Audio webcast:
Analyst and investors enquiries Media enquiries
Mal Patel +44(203) 417 1037 Alex Birtles +44(203) 417 1383

View the full press release in PDF format

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