StarHub Q1 revenues up 13%

8 May 2008

Singaporean fixed and mobile operator StarHub reported operating revenue of SGD535 million (USD393 million) in the first quarter of 2008, up 13% from SGD473 million in the corresponding period of 2007. Group EBITDA rose 6% year-on-year to SGD168 million in the first three months of the year, yielding an EBITDA margin of 33.1%. Pre-tax profits were SGD108 million, up 5% on the previous year, while net income climbed 15% to SGD80 million. StarHub said its Q1 2008 CAPEX was SGD35 million higher than in Q1 2007 at SGD59 million, including SGD28 million in capital expenditure payments carried over from the November-December 2007 period.

StarHub said its pay-TV unit registered the strongest quarterly year-on-year revenue growth (23%), compared to its mobile arm (13%), fixed network services (7%) and broadband (+6%). In terms of revenue contributions, the mobile business continues to be the group’s primary contributor generating 51% of the total, compared to pay-TV (18%), fixed network services (14%), broadband (12%) and equipment sales (5%). Mobile revenues were SGD273 million in the first three months of the year, driven by a 13% increase in subscribers to 1.8 million. StarHub’s pay-TV service contributed SGD97 million in sales, up 23% y-o-y, as its customer base expanded 4% to 508,000, of whom 438,000 (86%) are now on a digital platform. Broadband revenue grew 6% y-o-y to SGD64 million, aided by a 7% rise in MaxOnline customers to 352,000. Sales from fixed network services rose from SGD68 million to SGD73 million in the same period, with data & internet service revenue contributing 82% of the division’s revenue mix.

Singapore, StarHub