China Unicom books 15% uptick in annual profit

14 Mar 2022

Chinese full-service provider China Unicom has reported a 7.9% increase in annual operating revenue, with turnover reaching CNY327.9 billion (USD51.7 billion) in the year to end-December 2021. Service revenue made up CNY296.2 billion of that total, an increase of 7.4% year-on-year, with Unicom attributing the majority of service revenue growth to its ‘Industry Internet’ segment (encompassing amongst others cloud services, IT applications, IoT and data centres). Annual EBITDA grew to CNY96.3 billion, an increase of 2.3% compared to 2020, whilst net profits improved by 15.0% to CNY14.4 billion. Unicom also reported revenue improvements across its other main segments, recording a 4.8% uptick in mobile service revenue to CNY164.1 billion – driven by subscriber growth and an increase in ARPU from CNY42.1 in 2020 to CNY43.9 in 2021. Its fixed broadband division, meanwhile, saw a 5.2% increase in turnover from access services (to CNY44.8 billion), despite a slight dip in ARPU to CNY41.3 (from CNY41.5 in 2020).

The operator counted a total of 317.115 million mobile subscriptions as at 31 December 2021, up from 305.811 million a year earlier, including 154.928 million 5G package subscriptions. Fixed broadband subscriptions reached 95.046 million meanwhile, compared to 86.095 million at end-2020 and 83.478 million in December 2019.

China, China Unicom