China Telecom 2009 Net Profit Down 34% YoY
China Telecom PR, 3/22/10
China Telecom (NYSE: CHA; 0728.HK) has announced its unaudited financial results for FY 2009, with operating revenues reaching RMB 209.37 bln, up 12.25% YoY from RMB 186.53 bln in 2008. Excluding the amortization of the upfront connection fees, operating revenues were RMB 208.22 mln, up 12.9% YoY.
Net income for 2009 reached RMB 13.27 bln, down 33.9% YoY.
Operating revenues for 2009 broke down as follows: wireline voice revenues were RMB 78.43 bln, down 18.5% from RMB 96.26 bln in 2008; mobile revenues were RMB 35.62 bln, up 481.4% YoY from RMB 6.13 bln in 2008 (commenced from Q4 2008); Internet revenues were RMB 51.57 bln, up 26.6% YoY from RMB 40.73 bln last year; VAS revenues were RMB 21.54 bln, up 26.3% from RMB 16.25 bln in 2008; revenues from integrated information applications services reached RMB 12.66 bln, up 17.2% YoY from RMB 10.8 bln in 2008; revenues from managed data and lease line were RMB 11.5 bln, up 12.4% from RMB 10.23 bln; other revenues were RMB 12.5 bln, up 99.1% from 6.28 bln in 2008; and revenue from amortized upfront connection fees reached RMB 1.15 bln, down 43.1% from RMB 2.02 bln in 2008.
Of the company's RMB 35.62 bln in revenue from its mobile business, RMB 20.03 bln was from voice, RMB 9.98 bln was from data, and RMB 5.62 bln was from terminal sales.
China Telecom's total number of mobile subscribers reached 56.09 mln, up 28.18 mln subscribers, a 101% increase YoY. Wireline broadband subscribers reached 53.46 mln, up 9.19 mln or 20.8% YoY, and total fixed access lines were 188.56 mln, a net decrease of 19.79 mln, down 9.5% YoY. Of those, 112.24 mln were residential (household) lines, 32.1 mln were non-residential (government & enterprise) lines, 15.04 were public telephones and 29.18 were PHS (wireless local access) lines.
China Telecom recorded 4.07 mln 3G subscribers at the end of 2009, marking the first time China Telecom has broken out its 3G figures. Of those, roughly 3.3 mln are data card users and approximately 0.7 mln are handset users. Users are defined as those who have connected to the EV-DO network, but does not include those users who may be using an EV-DO handset only for 2G services. Wireless broadband subscribers, which includes both 2G and 3G data card users, as well as 2G and 3G handset users with data packages, reached 6.33 mln.
China Telecom reported mobile MOU of 308 minutes in 2009, compared with 309 minutes in 2008, and mobile ARPU of RMB 59.5, down 6.15% from RMB 63.4 in 2008. The company spent RMB 38.04 bln in capital expenditure in 2009, lower than its budgeted RMB 39.2 bln budget for the year, and down 21.4% from RMB 48.41 bln in 2008. China Telecom expects to spend RMB 39 bln on capex in 2010.
For China Telecom's complete fiscal report, please click here, or here for the report in presentation form.
Keywords: fixed-line subscribers China Telecom 2009 profit revenue telecom wireless fiscal report mobile subscribers broadband subscribers PHS subscribers VAS 0728.HK CHA capex mobile data CDMA2000 EV-DO 3G subscribers mobile Internet data card
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