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11/09/2021 | Press release | Distributed by Public on 11/09/2021 16:23

Growth of New Zealand fixed broadband and postpaid mobile subscriber bases continued, increasing by 13% and 8%, respectively, compared to the third quarter of 2020, despite ongoing nationwide COVID-19 movement restrictions implemented in mid-August. Postpaid subscriber growth was supported by the strength of B2B customer acquisition, with B2B gross additions and ending subscribers increasing 30% and 25%, respectively, compared to the third quarter of 2020.
Service revenuesgrowth continued in the third quarter of 2021 driven by solid New Zealand postpaid and fixed broadband revenues, increasing by 14% over the same period last year inclusive of a 6% foreign currency benefit.
New Zealand Segment Adjusted EBITDA increased by $0.9 million, or 3%, over the third quarter of last year on an organic basis, which excludes the impact of the new revenue standard, a year-over-year headwind of $1.6 million, or 5%, and a foreign currency exchange benefit of $1.7 million, or 6%. New Zealand Segment Adjusted EBITDA, as reported, increased by $1.0 million, or 4%, over the third quarter of last year.
Bolivian operations continued to experience revenue headwinds due to the ongoing impact of COVID-19 on the local economy, and an impairment charge of $113.8 million was recorded relating to long-lived assets of the Bolivian subsidiary as a result of negative financial trends.

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