StarHub reports 15% profit drop in Q4, but profits up 3% overall in 2009
Singapore – The final quarter of 2009 saw operating revenue at S$550 million and for the full year at S$2.15 billion. The Group’s EBITDA for the quarter was S$152 million or 8% lower year-on-year (YoY) but 1% higher at S$654 million for the full year. EBITDA margin as a percentage of service revenue was at 29.2% for the quarter and 31.8% for the full year. For the quarter, profit from operations at S$89 million was 15% lower YoY but remained stable for the full year at S$408 million. Net profit after tax decreased 15% for the quarter but increased 3% for the full year recording S$74 million and S$320 million respectively. Free cash flow (FCF) at S$82 million for the quarter was about the same as last year. Looking at the full year, FCF at S$461 million was 22% higher than last year’s S$378 million. Capital expenditure (capex) was 4% higher at S$57 million compared to S$55 million a year ago. For the full year, capex at S$231 million represented 11% of the Group’s operating revenue. On a full year basis, Fixed Networks revenue registered the highest growth at 6%. Mobile remained the major revenue contributor at 51%. Pay TV, Broadband, Fixed Network Services and Sales of Equipment contributed 19%, 11%, 15% and 4% respectively to the mix. Pay TV revenue rose 2% to S$406 million from S$398 million. This was driven by a larger customer base, which increased 3% YoY. For the year, ARPU came in at S$56, S$1 lower than a year ago. The total customer base stands at 539,000 households.
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