KT Skylife Reports Q4 Operating Profit of 18.5 Billion KRW, Up 8.6% Year-on-Year
[Asia Economy Reporter Seulgina Jo] KT Skylife announced on the 31st that its operating profit (based on separate financial statements) for the fourth quarter of last year increased by 8.6% year-on-year to 18.9 billion KRW. During the same period, sales decreased by 6.1% to 157.6 billion KRW, while net profit increased by 13.4% to 15.9 billion KRW.
Annual sales were recorded at 658.3 billion KRW, and operating profit at 65 billion KRW, representing increases of 0.1% and 2.7% respectively compared to the previous year.
The number of broadcasting subscribers continued qualitative growth centered on high ARPU (average revenue per user). The total number of broadcasting subscribers was 4.19 million, a decrease of 29,000 compared to the previous quarter, but UHD (ultra-high-definition) broadcasting subscribers, which guarantee high ARPU, increased by 41,000. UHD broadcasting subscribers reached 1.292 million, accounting for 30.9% of total subscribers.
Internet subscribers also increased by 19,000 in the fourth quarter due to the influence of the '30% discount home bundle' plan. The cumulative number of internet subscribers surpassed 100,000 for the first time, reaching 107,000 as of the end of last year. Notably, among internet subscribers, the DPS (broadcasting and internet bundled product) subscription rate, combining broadcasting, reached 94.7%.
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The dividend for the 2019 fiscal year was decided at 350 KRW per share, the same as the previous year. It is expected to be finalized at the regular shareholders' meeting to be held in March. Chae Hak-seok, Head of Planning and Coordination at KT Skylife, stated, "This year, we plan to further expand the 'skylife AI' service, which links high-quality real-time satellite broadcasting with an artificial intelligence (AI) platform," adding, "We will strive to improve customer satisfaction and increase subscribers through product restructuring."
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