China Telecom net profit grows 14%

20 Mar 2019

China Telecom has registered a 13.9% increase in net profit to CNY21.2 billion (USD3.16 billion) for the year to 31 December 2018 on the back of continuing subscriber and revenue growth in the mobile and fixed line segments, and further bolstered by returns from the initial public offering (IPO) of its infrastructure joint venture, China Tower. The telco booked operating revenue of CNY377.12 billion for the year, an increase of 3.0% y-o-y, whilst mobile service revenue and wireline service revenue grew by 9.1% an 3.1% respectively. EBITDA, meanwhile, totalled CNY104.2 billion, up from CNY102.2 billion in 2017.

The operator counted a total of 303.00 million mobile subscribers at end-2018, compared to 249.96 million twelve months earlier and, of that total, 242.43 million were 4G customers, up from 182.04 million in December 2017. In the fixed segment, Telecom claimed a total of 145.79 million broadband subscribers, including 140.66 million fibre-to-the-home (FTTH) users, growing from 133.53 million and 126.17 million respectively a year earlier.

China, China Telecom Corporation