A sailor wafts into an unfamiliar port. Does a quick walking tour of the streetscape, and thinks he knows more than the locals who have lived there for over a decade. Typical. Sometimes the superficial street view hides what has been going on under the hood. Revenues at Spark may not have changed much over 10 years. But I would argue that in terms of business operations, Spark (or Telecom as it was then) is the most 'transformed' company in the NZX20. Look at the table below of product category revenue to see what I mean:
Product Category |
Operating Revenue (FY2023) |
Operating Revenue (FY2013) |
Mobile |
$1,470m (+93.4%) |
$760m |
Voice |
$231m (-51.9%) |
$480m |
Broadband |
$626m (+78.9%) |
$350m |
Information Technology Services |
$723m (+38.2%) |
$523m |
Other Operating Revenues |
$825m (-% Not meaningful) |
$1,599m |
Australia (AAPT) |
$0m (-100%) |
$477m |
Total |
$3,875m (-7.5%) |
$4,189m |
Calculation Notes
1/ FY2013 Calling Revenue of $520m. Refer graph p26 AR2013.
2/ FY2013 Mobile Revenue: 1.815m x $35/month x 12 = $760m. Refer graphs p27 AR2013.
3/ FY2013 Broadband Revenue of $350m. Refer graph p26 AR2013.
4/ 'IT' includes 'cloud security and service management' and 'managed data network and services'. This business unit went under the monicker of Gen-i back then (AR2013 p86)
5/ 'Other Revenue' consists of revenue from equipment sales, dividends and other income.