• Service revenue up 2.2% to $4,179 million, with 4.2% growth in mobile revenue
• EBITDA up 18.4% to $1,660 million, with 2% growth on guidance basis
• Strong mobile subscriber growth of 228,000 following regional network expansion

TPG Telecom Limited (ASX: TPG) has released its financial results for the 12 months ended 31 December 2025 (FY25), highlighting its strongest period of mobile subscriber growth since 2022, the benefits of a simplified cost base, continued capital efficiency, and a strong cash flow outlook. Service Revenue increased 2.2% to $4,179 million, with Mobile Service Revenue growing 4.2% to $2,423 million driven by an increase of 228,000 Mobile subscribers, particularly in digital-first subscription brands and the enterprise, government and wholesale business. Fixed Service Revenue increased 0.7% to $1,702 million, supported by growth in TPG's Fixed Wireless broadband service and a return to growth in Vision Network subscribers.EBITDA was $1,660 million, an increase of 18.4%. On a Pro Forma basis, including the impact of new commercial agreements and excluding material one-offs, EBITDA was $1,637 million, an increase of 2.0% and just above the midpoint of the guidance range. Net profit after tax (NPAT) was $52 million, compared with a loss of $140 million in FY24, reflecting EBITDA growth, lower borrowing costs, and a $45 million non-recurring income tax benefit.Operating Free Cash Flow (OFCF) was $1,291 million, up $642 million, primarily reflecting $687 million of benefit from the initiation of the handset receivables financing program, and a $118 million reduction in recurring capital expenditure.The TPG Telecom Board has declared a final dividend of 9.0 cents per share, taking total FY25 dividends to 18.0 cents per share. A new dividend policy has been announced, targeting increases in dividends in line with sustainable growth in profit and cash flow.For FY26, TPG Telecom expects EBITDA to be between $1,665 million and $1,735 million, and capital expenditure to be approximately $750 million. The company is targeting continued growth in mobile service revenue, growing EBITDA margins, and ongoing growth in free cash flow, earnings per share and return on capital.

For FY26, TPG Telecom expects EBITDA to be between $1,665 million and $1,735 million, and capital expenditure to be approximately $750 million.

TPG Telecom is targeting continued growth in mobile service revenue, growing EBITDA margins, and ongoing growth in free cash flow, earnings per share and return on capital.