Amaysim’s mobile customer base grew by 11 per cent in FY17, with the telco revealing this morning that as of 30 June it had 1.07 million mobile subscribers, up from 966,000.
The mobile virtual network operator (MVNO) reported 29 per cent growth in revenue to $326.7 million for the year. Net profit after tax was down 7 per cent to $11.5 million. Amaysim’s underlying EBITDA grew 23 per cent to $43.5 million.
“While maintaining momentum in our core mobile business, we made significant progress diversifying into new product areas to capture a greater share of household wallet,” said Julian Ogrin, the telco’s CEO and managing director.
Amaysim’s mobile business delivered EBITDA of $43.1 million, up 22 per cent.
“The telecommunications sector is continuing to experience a structural shift in consumer preferences,” Ogrin said. “Consumers are demanding the freedom obtained by decoupling their phone from their mobile plans and the desire to easily switch plans as their needs change. Amaysim’s bring-your-own device, no-lock in contract, online-led mobile offering has positioned us well to take advantage of this structural shift in consumer expectations and demand.”
In August 2016 the company acquired Internet service provider AusBBS and in February it unveiled Amaysim-branded NBN plans.
Ogrin said that Amaysim has had a focus on marketing NBN services to its existing customer base. As of 30 June there were more than 1000 Amaysim NBN customers, with the group having some 5000 broadband subscribers in total.
“Outside of price, we are differentiating our NBN experience by offering a market leading technology platform,” Ogrin said.
“We are particularly proud of our activation efficiency which is one of the fastest in the market, enabling existing Amaysim mobile customers to order direct from their computer or phone in just a few touches of a button.”
It took an average of 5.9 days to activate an NBN customer, which Amaysim said was 41 per cent quicker than the industry average on similar technologies.
The group’s broadband business reported an underlying EBITDA loss of $2.6 million.
During the year the company also acquired energy retailer Click, which ended the year with around 165,000 accounts.