KT Skylife Reports Q1 Operating Profit of 18.5 Billion KRW, Down 17.6% YoY

[Asia Economy Reporter Joesulgina] KT Skylife announced on the 11th that it recorded Q1 sales of 156.2 billion KRW and operating profit of 18.5 billion KRW based on separate financial statements. These figures represent decreases of 1.9% and 17.6%, respectively, compared to the same period last year. Net profit for the same period was 15.4 billion KRW, down 13.7%.

Overall Q1 sales slightly declined due to the restructuring of the Home Solution business, but service sales increased by 3.4% year-on-year as satellite broadcasting and internet subscribers grew. Additionally, potential quarterly sales from TPS subscribers rose to 1.4 billion KRW, showing a 91.5% growth.

Operating profit and net profit also decreased compared to a year ago due to the impact of the Home Solution business restructuring. However, compared to the previous quarter, they increased by 123% and 55.7%, respectively, partly due to retroactive cost recognition from program usage fee contracts in the prior quarter.

As of Q1, the total number of subscribers combining broadcasting, internet, and mobile reached 4.25 million, an increase of 10,000 from the previous quarter. For the second consecutive quarter following Q4 last year, skylifeTV, a satellite broadcasting-only product, saw a net increase of 10,000 subscribers. Internet subscribers also grew steadily with a net increase of 27,000 compared to the previous quarter. Newly launched mobile subscribers in Q4 last year reached 26,000.

Bundled subscribers also showed remarkable growth. Excluding OTS, TPS subscribers combining skyTV, internet, and mobile increased by 62,000 by the end of Q1, representing a 114% growth compared to the previous quarter.

Yang Chunsik, Head of Management Planning at KT Skylife, said, “Skylife is continuing its full-scale activities as a TPS operator this year, conducting various promotions along with bundled discounts and opening its first offline store in Jeju.” He added, “We will contribute to reducing household communication expenses and lead practical consumption by providing customer convenience and reasonable broadcasting and telecommunications convergence services.”

This content was produced with the assistance of AI translation services.