China Telecom books CNY17.7bn H1 net profit

11 Aug 2021

Chinese full-service provider China Telecom has booked operating revenue of CNY219.24 billion (USD33.8 billion) for the first six months of 2021, an increase of 13.1% year-on-year. Of that total, service revenues comprised CNY203.50 billion – up from CNY187.11 billion in H1 2020 – including CNY93.34 billion in mobile communications service revenues. EBITDA for the six-month period rose by 5.1% y-o-y to CNY66.35 billion, although EBITDA margin dipped by 1.2 percentage points over the same period to 32.6%. Net profit, meanwhile, was up 27.2% compared to H1 2020 at CNY17.74 billion.

Telecom attributed the growth to the accelerated development of its mobile and ‘Smart Family’ services, recording a 2.9% increase in mobile ARPU to CNY45.7 whilst its wireless user base reached 362.49 million customers at end-June 2021. Telecom counted a total of 131.15 million ‘5G Package Subscribers’ at that date, compared to 86.5 million at the end of 2020. In the fixed segment, meanwhile, the operator recorded a total of 164.21 million fixed broadband users as at 30 June 2021, up from 158.53 million in December 2020, alongside 119.32 million IPTV users (115.92 million six months earlier).

China, China Telecom Corporation