2degrees announced its financial results for the year ended June 30, 2025, celebrating another period of solid growth and the successful completion of its landmark integration project.
The company reported a $42.9 million increase in total revenue, representing 3.2% year-on-year growth, to post a figure of $1.385 billion for the year. Service revenue performed well delivering 3.9% year-on-year growth.
Despite economic headwinds, 2degrees has strengthened its position in the New Zealand market by continuing to grow across key product and market segments.
The financial results reflect the company’s growth across its core services:
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Mobile revenue increased 4.8% year-on-year to $581.5 million from $555.0 million in the prior year. -
Broadband revenue grew 3.9% year-on-year to $432.3 million, up from $415.9 million in 2024. -
Energy revenue saw a rise of 8.7% year-on-year to $133.4 million from $122.7 million.
A New Chapter of Innovation and Growth
With the integration successfully completed, 2degrees is now focused on a three-year strategy pillared on growth, innovation, value and customer experience.
The company is already executing on this strategy, demonstrated by a recently announced partnership with AST SpaceMobile, a multi-million-dollar investment that will allow the mobile network to connect directly to satellites. Major account win with Network for Learning (N4L) in 2024 further reinforces the strength of 2degrees’ infrastructure and wholesale business, and onboarding more than 2,500 schools is well progressed.
Mark Callander, Chief Executive
This achievement marks a pivotal moment. We’ve successfully transitioned from a period of high change to a new era of innovation and accelerated growth. Our new three-year strategy is ambitious and clear: to be the number one telco in New Zealand by value, innovation and growth. This isn’t just an aspirational goal; it’s a bold and deliberate plan to leverage our new scale and technology to challenge the market like never before. We have invested in building a fixed and mobile network that gives New Zealand the coverage it demands, and we have built a business that delivers services customers want at the best value.
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