China Mobile 2009 Net Profit Up 2% YoY
China Mobile PR, 3/18/10
China Mobile (NYSE: CHL; 0941.HK) has announced its unaudited financial results for 2009, with operating revenues reaching RMB 452.1 bln, up 9.8% YoY.
Net income attributable to shareholders for 2009 was RMB 115.2 bln, up 2.3% YoY.
During the period, revenue from usage fees came to RMB 285.971 bln, up 9.76% YoY. Revenue from monthly fees came to RMB 14.661 bln, down 18.85% YoY. Revenue from value-added services (VAS) came to RMB 131.434 bln, up 16.02% YoY, and revenue from other operations came to RMB 20.037 bln, up 0.62% YoY. Of VAS revenues, RMB 53.56 bln came from SMS, RMB 24.88 bln came from voice VAS, and RMB 53.00 bln came from non-SMS data business. Revenue from CRBT grew 7.4% to reach RMB 15.41 bln, revenue from mobile Internet (WAP) grew 41.3% to reach RMB 18.34 bln, and revenue from MMS grew 15.1% to reach RMB 3.31 bln.
China Mobile's capital expenditure for 2009 was RMB 129.4 bln, representing 28.6% of operating revenue. China Mobile plans to reduce capital expenditure over the next three years, projecting a budget of RMB 123 bln in 2010 with 86% going towards 2G/3G integrated network construction, while 14% will be allocated for 2G alone. China Mobile has budgeted RMB 98 bln in 2011 and RMB 80.4 bln in 2012 for capital expenditure.
The total customer base at the end of 2009 reached 522 mln users, of which 65.03 mln were net additions. In 2009, total voice usage volume was 2,918.712 bln minutes, with MOU at 494 minutes, and monthly average revenue per user (ARPU) of RMB 77.
China Mobile's total number of corporate customers reached 2.78 mln accounts by the end of 2009, with individual customers under corporate customer accounts representing 35.4% of the company's total customer base.
China Mobile's Wireless Music Club members grew 42.5% to 121.3 mln, mobile paper subscribers grew 18.4% to 49.12 mln, Fetion instant messaging customers grew 68% to 62.56 mln, and number of inquiries on China Mobile's 12580 information service line grew 77.1% to 273 mln.
In addition to confirming its acquisition of a 20% interest in Shanghai Pudong Development Bank (SPD Bank), China Mobile revealed that it had also entered into a Memorandum of Understanding for strategic cooperation with SPD Bank. Upon completion of the subscription, China Mobile and SPD Bank will closely cooperate in the joint development of mobile e-commerce businesses, among other things.
To see China Mobile's full earnings report, please click here, or here for the report in presentation form.
Keywords: WVAS mobile data China Mobile 2009 ARPU profit revenue wireless Fetion Wireless Music Club SMS Shanghai Pudong Development Bank CHL 0941.HK 12580 mobile paper mobile Internet mobile music m-commerce capex fiscal report M&A ringback tone mobile subscribers MMS
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