Three UK updates on Q1 figures

Financial Highlights

 2022 Q12021 Q1% Variance
Total Revenue (£m)582581
Total Margin (£m)365359+1
Total Margin (%)8790
Capex (£m)(162)(152)+7
Net ARPU (£)12.9612.79+1
Net AMPU (£)11.5211.26+2
Active Customer (‘000)9,7469,307+5
Active Contract Customer (‘000)8,1717,569+8
Registered Contract Churn (%)1.11.3

Key Highlights

  • Total revenue flat YOY, £582m vs £581m
  • Total margin up 1% to £365m vs £359m while net AMPU is up YoY by 2%
  • Strong growth in contract base, up 5% YoY with significant growth in SMARTY, Home Broadband and Business
  • Contract churn is 1.1%, reduced in Q1 2022 through strong retention initiatives
  • Capex spend is 7% higher due to significant network investment in the year as we continue the rollout of 5G and to enhance the performance of our 4G network
  • 5G coverage of more than 1/3rd of UK population across 370 towns and cities with more than 2,800 sites live

Robert Finnegan, Chief Executive of Three UK, said:

“These results are a very encouraging start to the year. We’re continuing to make strong progress in all areas of our business, with SMARTY, Home Broadband and Business all going from strength to strength.

“Our network improvements are supporting this growth, and we now cover more than a third of the UK’s population and have the fastest 5G network as rated by Ookla. Our continued investment is enabling our customer experience improvements.

“I’d like to take this opportunity to thank everyone at Three for their hard work.”

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