Green Packet reports slightly higher revenue
By Digital News Asia February 26, 2013
- Total subscriber base of 517,000 from last year’s 389,000
- Subsidiary P1 planning to roll out 4G TD-LTE in second half of 2013
GREEN Packet Berhad, the parent company of WiMAX broadband services provider P1, reported revenue for fiscal year 2012, which ended Dec 31, had gone up by RM50 million from the previous year to hit RM588.6 million.
It said fourth quarter revenue hit RM162.3 million, a 5% rise from RM154.6 million in year-on-year comparison.
Green Packet also registered RM31.2 million EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization) for FY2012.
[RM1 = US$0.32]
“2012 was a transformative year for Green Packet," said Puan Chan Cheong, group chief executive officer and managing director. “We exited 2011 having successfully focused on our long-term business strategy and remained financially-disciplined in our operation.
“Based on that, we said that 2012 would be a year of accelerated product and services, and it was. The products we delivered throughout the year drove customer engagement and financial results to record levels in the fourth quarter,” he claimed.
Green Packet’s P1 pillar contributed RM82 million to the Group’s revenue and registered a positive EBITDA of RM7.1 million for the fourth quarter of 2012, which represented a 1,222% improvement year-on-year, it said.
P1 had also reached new heights with its total subscriber base, surpassing the 500,000 benchmark it had set for 2012. In fact, it had already met and surpassed its target last quarter with 506,000 subscribers and achieved a new milestone of 517,000 subscribers by year-end, Green Packet said.
In the same quarter, it also posted a better than industry average churn rate of 4.9% while its ARPU (average revenue per user) increased to RM81. Year to date, it managed an industry average churn rate of 4.4% and a favorable ARPU of RM78.
“P1 is successfully leveraging its unique strategic position as a nationwide, full-fledged fixed, nomadic broadband and fiber optics operator with nearly 1,900 base stations throughout Malaysia.,” said Puan.
“It has continued to invest in transformational initiatives and networks, especially with the newly launched 4G broadband in sub-urban areas and its new venture in Kota Kinabalu, Sabah, while delivering strong revenue performance,” he added.
The Greenpacket Solutions pillar recorded RM38 million in revenue, growth that was contributed by the device business as it steadily increased the market reach and completed several device shipments this quarter.
“2013 will be an interesting and significant year, as we will see the next generation 4G technology – both Time-Division (TD) and Frequency-Division (FD) Long-Term-Evolution (LTE) gear up momentum,” Puan said.
“Currently, the Group’s 4G broadband technology is Time Division-LTE ready and the new spectrum license allocation awarded recently is an added advantage, even in a stiff competitive environment.
“P1 is planning to roll out 4G TD-LTE on a combined 50MHz channel bandwidth in the second half of 2013 because we believe the user experience on LTE is important for our success,” he added.
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