HKBN's EBITDA up despite revenue slip

9 Dec 2013

High speed fibre triple-play operator Hong Kong Broadband Network (HKBN) has reported its financial results for its full-year ended 31 August 2013, which showed a slight decline in total revenue to HKD1.922 billion (USD248 million), down from HKD1.939 billion in FY12, although underlying service revenue climbed from HKD1.723 billion to HKD1.833 billion in the same period. EBITDA also grew, to HKD711 million in FY 2013, up from HKD649 million the previous year, while service-only EBITDA grew from HKD625 million to HKD698 million for the twelve months under review. CAPEX spending was less in FY13 than FY12 (HKD318 million compared to HKD357 million), while network costs/sales costs were also reduced from HKD419 million to HKD296 million, but annual net profit dropped to HKD358 million from HKD495 million. Total broadband internet subscriptions rose from 626,000 in August 2012 to 660,000 a year later in a mature and very competitive market, while HKBN’s customer ARPU increased by 7.5% year-on-year to HKD167.

Hong Kong, Hong Kong Broadband Network (HKBN)