Germany ⫶ Commercial improvement
Service revenue growth
Key drivers
• Slower growth, due to Business revenue phasing and unwind of non-recurring Q2 service provider revenue
• Last wave of broadband price increases concluded during January 2024
Germany 31% of Group service revenue
0.3%
• Mobile customer net additions supported by good growth in branded Consumer
• Bundled TV and Broadband proposition launched in December. MDU TV end user migrations to individual bills started in January 2024, ahead of July 2024 law change
Net additions (‘000)
Service revenue growth (%)
95
DSL
Cable
Mobile contract
69
1.1%
24
8
0.3%
(11)
(28)
(14)
(46)
(35)
(51)
(48)
(25)
(1.3%)
(49)
(1.8%)
(87)
(70)
(2.8%)
Q3 FY23
Q4 FY23
Q1 FY24
Q2 FY24
Q3 FY24
Q3 FY23
Q4 FY23
Q1 FY24
Q2 FY24
Q3 FY24
Q3 FY24 Trading Update ⫶ February 2024
4
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