Why CAPEX? Today, most executives would answer that CAPEX is necessary for two reasons: To grow (or sustain) revenue and to reduce OPEX.

In reality, not all CAPEX is productive. Investment decisions might prove wrong. The return on an investment can be lower than expected when competition does the same (or the opposite). Implementation delays might lead to that the window of opportunity is missed.

Since mobile telecom – compared to other mature industries – is a CAPEX intense business, CAPEX efficiency is important.

This analysis introduces a simple way to compare CAPEX efficiency – looking at the effects on both revenue and OPEX. It shows that some mobile operators have a track record of high CAPEX efficiency, whereas others have not.

Download analysis: tefficient public industry analysis 13 2013 CAPEX efficiency