SKT posts increase in revenue for 2009
The operator said the rise was the result of an increase in the number of subscribers and growth particularly from its wireless internet services, which it said had helped to offset expanded discount plans and tariff cuts. Operating income meanwhile rose 5.8% y-o-y to KRW2.179 trillion, with cost-cutting measures citing as one of the growth drivers.
Earnings before interest, tax, depreciation and amortisation for the twelve-month period was KRW4.209 trillion, up 5.1% compared to full year 2008. While SKT also posted a rise in net income it was relatively small, climbing 0.8% against the previous year, with the operator claiming that it had been affected by the increased competition in the sector as a result of the merger of rival KTF and its fixed line sister company KT. CAPEX for 2009 was KRW1.769 trillion, with much of the investment going towards the upgrade of the cellco’s W-CDMA network and expansion of its WiBro network.
At end-2009 SKT had 24.25 million subscribers, up 5.3% compared to the 23.03 million it reported a year earlier. However, as a result of the expanded discount plans and tariff cuts, average revenue per user (ARPU) fell 1.3% against 2008 to KRW42,469.
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