Far EasTone meets forecasts in 1Q13

29 Apr 2013

Taiwan’s Far EasTone (FET) has issued an investor update for the first three months of 2013, with the telco posting a 15.7% year-on-year increase in net profit. In the period ended 31 March 2013 FET reported a net income of TWD2.781 billion (USD93.72 million), up from TWD2.403 billion in the year-ago quarter, on total revenues that increased by 4% to TWD22.086 billion. Service revenues in the company’s first fiscal quarter of 2013 meanwhile rose by 3% against 1Q12 to TWD17.344 billion, although this was down marginally against the TWD17.534 billion in the previous quarter. Mobile service revenues totalled TWD15.069 billion, up 3.5% y-o-y, but again this was down against 4Q12, when the operator generated mobile service turnover of TWD15.284 billion; the decline was attributed in part to reduced mobile termination rates (MTRs). Consolidated EBITDA in 1Q13 stood at TWD6.142 billion, representing a 6.1% increase against 1Q12.

In operational terms, with FET highlighting the fact that it had seen 35 consecutive months of subscriber growth, at the end of March 2013 the telco’s subscriber base stood at 6.990 million, up from 6.694 million a year earlier.

Taiwan, Far EasTone (FET) (incl. NCIC)