Dasdeq Essay

151534 Words Feb 9th, 2014 607 Pages
Changing the game.
Annual Report to Stockholders 2012

Dear Stockholder,

Welcome to TMUS.
You are an owner of America’s Un-carrier — the combined entity of MetroPCS and T-Mobile USA. As the industry’s premier challenger and value player, we are revolutionizing the wireless industry.
TM T-Mobile 2012 Annual Report 3

Building the Foundation
In 2012, MetroPCS and T-Mobile built the foundations to become the Un-carrierTM in 2013. Each company made good progress across what are now the combined company’s five strategic priorities — the building blocks that enable us to bring consumers exciting new choices while delivering an exceptional experience. Here are notable 2012 highlights: Amazing 4G Services
Increased Spectrum –
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Multi-Segment Player
Expanded Partnerships – T-Mobile achieved 610,000 Mobile Virtual Network Operator (MVNO) net adds, signed six new MVNO partners, and substantially expanded its relationships with existing partners. Grew Business-to-Business (B2B) – T-Mobile increased its business customer base by 6% to 6.6 million customers.

Challenger Business Model
Delivered Strong Profitability – Combined entity results would have shown a strong adjusted EBITDA1 of $6.4 billion and Free Cash Flow 2 (FCF) of $2.7 billion. Invested for Growth – T-Mobile delivered more than $900 million of gross savings from its cost program — much of which was reinvested in customer growth and experience initiatives; T-Mobile also divested approximately 7,100 non-core tower assets.

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T-Mobile 2012 Annual Report

America’s Un-carrier
Of course, the most significant moment of the year was the October 3, 2012, announcement that T-Mobile and MetroPCS would combine — creating T-Mobile US, Inc., America’s Un-carrier. The combination has brought together two companies with one common vision: to rewrite the rules to give consumers what they want from wireless. Together, we are a more disruptive force than ever before — with the scale, spectrum and financial resources to revolutionize the wireless industry.

Combined customers
42 million as of Q4, 2012

T-Mobile MetroPCS

9M

33M

This industry needs a revolution. Because there’s no question it’s

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