China Mobile reports year-end results

19 Mar 2009

China Mobile reports that operating revenues for the twelve months ended 31 December 2008 grew 15.5% to RMB412.343 billion (USD60.4 billion). EBITDA rose by 11.6% to RMB216.49 billion, while net profit jumped 29.6% to RMB112.79 billion. The company added an average of over 7.4 million new wireless customers per month in 2008 to end the year with 457 million. Its network was continually expanded during the course of the year, and at the end of December comprised 390,000 base stations which provide 98% population coverage. Deployment of the company’s TD-SCDMA network continues apace, having finally been awarded the 3G concession for China’s homegrown 3G technology in January this year. It has earmarked RMB375.4 billion for capital spending between 2009 and 2011 as it switches to the 3G network, which it promises will offer data-rich, multimedia services. Total CAPEX was RMB136.3 billion in 2008.