European mobile in Q2 2017: Rare growth spike | Oct 2017

Sectors: 
Non-UK Media
Non-UK Telecoms
Media
Mobile
Non UK Media
Technology
Telecoms
UK Media
Companies: 
EE
France Telecom
Hutchison 3G
Iliad
Orange
SFR
T-Mobile
Telecom Italia
Telefonica
Vodafone

European mobile service revenue growth witnessed a rare growth spike this quarter, rising to 0.5%, likely due in large part to the reduced impact this quarter from the European roaming cut regulation, but also helped by a slight softening of MTR cuts and continued ‘more-for-more’ price increases

This roaming regulation holiday will end next quarter and the full impact of ‘free roaming’ will be felt, thus the spike in mobile service revenue growth is likely to more-than-reverse

What is likely to prove lasting is the zero-rated data offers introduced in several markets in Q2, which we expect to see more of given their reported success at improving ARPUs

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