2degrees makes hay in gloomy market

CEO Mark Callander said 2degrees was a natural fit when businesses were “looking under the hood” for cost savings. (Image: 2degrees)

Ben Moore

Fri, 29 Nov 2024

2degrees remains in growth mode, reporting a small net loss as revenue and connections grew.The telco posted a net loss of $3.1 million for the financial year to 30 June 2024, an improvement of $34.9m over the year prior, when adjusted for the one-off income from the sale of mobile towers.Overall revenue was up 7% to $1.34 billion, with an adjusted 16% increase in earnings before interest, taxes, depreciation and amortisation (Ebitda) to reach $339m.Cash flow from operating activities was up 53.6%, rising $59m to reach $169m.“Against...

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