PPF Telecom Group B.V. has published its audited consolidated financial statements for 2022. PPF Telecom announced growth despite strong inflationary headwinds in all the markets where it operates. The Group saw strong demand for fast, stable, and secure mobile data services across its customer base.

Due to the roll-out of 5G services in four countries, the Group recorded, as anticipated, a year-on-year increase in capital expenditure, bolstering its position in the data-driven environment.

O2 Slovakia’s infrastructure operations were spun off into a separate company O2 Networks, mirroring the operating model applied by the Group in all its subsidiaries.

Last year, the Group’s infrastructure subsidiary CETIN Group successfully entered the Eurobond market by placing a five-year unsecured senior EUR 500 million bond. It also closed the transaction to form a partnership with the Singapore-based global investment firm GIC.

In 2022, PPF Telecom Group successfully completed the rebranding of its commercial businesses in Bulgaria, Hungary, and Serbia to Yettel, boosting the Group’s brand equity.

In the second half of 2022, the Group published its inaugural sustainability report, committed to emission reductions in line with the recognized Science Based Targets initiative, and began providing its environment-related data to the CDP (Carbon Disclosure Project).

"O2, Yettel, and CETIN continued winning in 2022 by again putting their customer needs first. The new Yettel brand also demonstrates our customer-centric approach, evidenced by the high net promoter score remaining largely unaffected by the rebranding. The customer preference for our brands resulted in stable increases in our postpaid customer base across all markets and powered Group revenue growth through the steep inflationary pressures of last year," said Balesh Sharma, CEO of PPF Telecom Group.

"I'm very proud of our teams' enthusiasm to differentiate our companies by delivering on the Group's environmentally sustainable growth through numerous projects, including carbon-footprint reporting and electronics-recycling initiatives. Combining our financial strength and resolve to do business responsibly has positioned the Group to meet the challenges of 2023 and beyond," said Balesh Sharma.

Group 2022 consolidated revenues were EUR 3.5 billion, up 5.1% year-on-year.

Group 2022 EBITDA after Leases (earnings before interest, tax, depreciation, and amortization) rose 3% year-on-year to EUR 1.5 billion.

Group mobile customers at year-end 2022 numbered 18 million.

CAPEX (excluding spectrum costs) grew by 25% year-on-year, in line with the roll-out of 5G networks in Bulgaria, the Czech Republic, Hungary, and Slovakia. CAPEX was also driven by the FTTH data broadband service roll-out in the Czech Republic.

In 2022 the Group recorded revenue and EBITDA