Home and Business segments drive China Mobile revenue growth

25 Mar 2021

China Mobile, the world’s largest mobile provider by subscribers, has booked operating revenue of CNY768.1 billion (USD117.7 billion) for the year to end-December 2020, an increase of 3.0% year-on-year. Telecommunications service revenue comprised CNY695.7 billion of that figure, an improvement of 3.2% compared to 2019. China Mobile attributed the revenue growth to its ‘Home’ and ‘Business’ segments, which it said ‘delivered outstanding performance’: fixed broadband (part of its Home market) annual revenue increased 17.4% y-o-y to CNY80.8 billion with the operator reporting over 20 million net additions for the year, bringing its total to 192 million subscribers at 31 December, whilst blended household broadband ARPU rose by 6.9% y-o-y to CNY37.7. Revenue from its Business segment, meanwhile, rose by 25.8% y-o-y to CNY112.9 billion. EBITDA for the year fell by 3.7% to CNY285.1 billion, although the operator notes that it tightened cost control measures to improve efficiency and that these efforts ‘generated desirable outcomes’. Profit attributable to shareholders was CNY107.8 billion, up from CNY106.6 billion in 2019.

China Mobile ended the year with 942 million mobile subscribers (down from 950 million at end-2019), including 775 million 4G users (758 million a year earlier) and 165 million 5G package customers.

China, China Mobile