TPG Telecom Limited announces results for full year ended 31 December 2022

On 27 February 2023, TPG Telecom Limited (ASX: TPG) announced results for full year ended 31 December 2022 which showed:

• The service revenue increased by 1.5% to AU$4,439 million due to mobile subscriber growth returning.
• The EBITDA was AU$2,135 million and NPAT was AU$513 million, which includes an accounting gain on the sale of tower assets.
• Excluding tower assets gain and restructuring costs, EBITDA increased by 3.8% to AU$1,793 million and NPAT was AU$222 million before tower assets gain and customer base amortization.
• The final dividend was 9.0 cps, fully franked, and the total FY22 dividend was 18.0 cps, up 9%.
• The company delivered AU$140 million of annualized merger cost synergies offsetting inflationary pressure, and the balance sheet was strengthened with reduced net debt.
• For FY23, the company is expecting its EBITDA to be in the range of AU$1,850 million to AU$1,950 million, excluding material one-offs and transformation costs.

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