Carphone Warehouse 2011 Annual Report Download - page 25

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WIDE DISTRIBUTION NETWORK
OUTSTANDING CUSTOMER SERVICE
VIRGIN MOBILE FRANCE
STRONG BRAND AWARENESS
OVER 40% REVENUE GROWTH
1.9 MILLION CUSTOMERS
NO.1 FRENCH MVNO
GROWING MARKET SHARE
Carphone Warehouse Group plc Annual Report 2011 21
BUSINESS REVIEW
BUSINESS REVIEW
VIRGIN MOBILE FRANCE: OVERVIEW
PERFORMANCE HIGHLIGHTS
• Virgin Mobile France has
its own experienced
management team, led
by Geoffroy Roux de
Bezieux, Chairman.
• Geoffroy joined Carphone
Warehouse in 1995, founding
its retail business in France,
and was a member of the
Old Carphone Warehouse
board before leaving to
set up this venture.
• Three representatives
from each shareholder sit
alongside Geoffroy on the
joint venture board.
• The board ordinarily meets
formally once a month to
agree strategy and review
performance.
• The Virgin Group was
founded by entrepreneur
Sir Richard Branson, and
operates across a range
of sectors globally.
• It has become one of the
leading exponents of the
MVNO business model
worldwide, having also
set up Virgin Mobile
operations in the UK, US,
Australia, Canada, India
and South Africa.
• Management of Virgin
Mobile France also hold
a minority stake.
OUR JOINT VENTURE PARTNER MANAGEMENT STRUCTURE
• Virgin Mobile France has
grown rapidly in the current
year, with net customer
additions of 0.2m, well
ahead of our expectations at
the beginning of the year.
• After several years of EBIT
and cash investment in
growth, the business has
now reached a scale where
it is generating good profits
and cash flows, even while it
continues to grow.