Singapore – StarHub Ltd has announced its results for the fourth quarter and full year ended 31 December 2012.

Operating revenue for the quarter rose 7% to S$654.1 million compared to S$612.6 million year-on-year (YoY). The Group’s EBITDA decreased 5% to S$175.9 million for the quarter. On a full year basis, operating revenue increased 5% to S$2,421.6 million while EBITDA was 7% higher at S$719.8 million from S$676.0 million previously. EBITDA margin as a percentage of service revenue was 31.2% for the quarter and 32.3% for the year.

In 4Q2012, net profit after tax was at S$87.9 million. Compared to a year ago, net profit after tax decreased 5%. On a full year basis, net profit after tax increased 14% to S$359.3 million. Cash capital expenditure (capex) was at S$115.3 million for the quarter or 1% lower YoY. On a full year basis, it was 11% higher at S$272.7 million.

For the company’s pay-TV business, revenue decreased 1% YoY for the quarter but on a full year basis, was higher by 5% to S$396.3 million. The higher revenue was attributed to the UEFA EURO 2012 event, HD set-top box rental, increased take up of add-on channels, and full year impact of the S$2 subscription rate increase that has been effective since August 2011. Pay-TV ARPU was at S$51 for the quarter and for the full year, it increased S$2 YoY. There were 536,000 pay-TV households at the end of the year.  

Hubbing households with three services increased by 9,200 to 214,000 from the previous year. There were 447,000 Singapore households taking up two or more StarHub services as at end 2012.

StarHub expects operating revenue for 2013 to grow in the single-digit range and overall group EBITDA margin as a percentage of service revenue to be about 31%. The total capex payments in 2013 are expected to be about 13% of operating revenue. The company intends to maintain the annual cash dividend payout of 20 cents in 2013.