Results for the year ended 31 December 2009
Net profit stable at S$150.3 million, exciting opportunities ahead with NGNBN
SINGAPORE, 19 January 2010 – MobileOne Ltd (M1) today announced the unaudited group financial results for the year ended 31 December 2009. Amidst a challenging economic and operating environment, M1’s operating revenue declined 2.4% year on year to S$781.6 million. However, EBITDA margin on service revenue improved by 1.3% points to 44.2% as a result of ongoing cost management initiatives. Net profit after tax was stable at S$150.3m.
The total customer base grew by 40,000 – helped by an increase of 19,000 postpaid customers – in the fourth quarter to 1.758 million as at 31 December 2009. The iPhone, launched in December 2009, received an overwhelming response from existing and new customers.
The broadband customer base continued to grow and revenue from non-voice services contributed 26.0% of service revenue, up from 23.4% a year ago.
“The Next Generation National Broadband Network (NGNBN), to be launched this second quarter, will present new and exciting opportunities for M1. We will be able to offer a more comprehensive suite of communication services to both retail and corporate segments. For 2010, we aim to grow revenue and mobile market share.”
“Based on the current outlook, we foresee earnings this year to be comparable to 2009,” said Ms Karen Kooi, Chief Executive Officer of M1.
The Board of Directors has recommended a final tax-exempt dividend of 7.2 cents per share, taking full year payout to 80% of net profit after tax for 2009.