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StarHub books small fall in 3Q income, but 9M profits up

8 Nov 2013

Singaporean fixed and mobile operator StarHub has released its financial results for the third quarter and nine months ended 30 September 2013, reporting that net profits for 3Q13 fell 1% year-on-year to SGD95.3 million (USD76.7 million), although 9M13 income climbed 6% to SGD287.1 million. Quarterly operating revenue also declined 1% y-o-y to SGD578.8 million from SGD585.9 million and was down 1% too when considering the nine month figure. StarHub attributed the small fall to lower equipment sales revenue, which was offset in part by higher service revenue. Third-quarter EBITDA dipped 1% y-o-y to SGD186.9 million, but was 3% higher for the nine-month period at SGD560.4 million. EBITDA margin as was 33.6% for the quarter, and 33.7% for 9M13, it said. The carrier said CAPEX was SGD78.6 million (32%) in the three-month period, while year-to-date the figure reached SGD215.3 million (37%), with some costs relating to the payment of the leasehold land for the construction of its cable TV network transmission centre.

In terms of segment performance, StarHub’s mobile unit booked revenue of SGD308.3 million and SGD924.9 million in Q3 and 9M respectively, up 2% and 1%, respectively; pay-TV revenue decreased 4% for both the quarter and 9M13 period to SGD95.5 million and SGD285.8 million; and broadband sales slumped to SGD59.6 million (down 5%) for the quarter and also declined SGD2.8 millino for the year-to-date, to SGD182.7 million. Fixed network revenue increased 3% y-o-y for both the quarter and 9M period, with ‘Data & Internet’ services revenue, which makes up over 80% of fixed network revenue, increasing SGD2.5 million to SGD76.8 million from a year ago. Looking ahead, StarHub said it expects group operating revenue for the year to be lower than in FY 2012, but service revenue is expected to be maintained.

Singapore, StarHub

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