KT Skylife Swings to 23 Billion Won Operating Profit Last Year

"ipit TV" Gains 124,000 Subscribers in Just Six Months

KT Skylife announced in a regulatory filing on February 9 that it swung to a consolidated operating profit of 23 billion won last year. Revenue came in at 984.2 billion won, down 3.8% from a year earlier.

KT Skylife building. Provided by KT Skylife

KT Skylife explained that its profit structure has stabilized as amortization expenses and impairment losses on subsidiaries' intangible assets decreased significantly. Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at 164.3 billion won, maintaining solid cash generation.

The growth of "ipit TV," launched in July last year, was also notable. Within just six months of its launch, the cumulative number of retained subscribers surpassed 124,000. In particular, subscribers increased by 71,000 in the fourth quarter alone, leading to a turnaround to net growth in the number of Sky TV (satellite + ipit TV) subscribers.

In the telecommunications services segment, the number of retained internet subscribers reached 598,000, up about 20% from the previous year, while mobile service subscribers totaled 443,000, showing a stable growth trend.

Choi Youngbeom, CEO of KT Skylife, said, "Last year was a meaningful year in which we laid the foundation for a rebound in the broadcasting business through the new product 'ipit TV' and achieved a turnaround to consolidated operating profit," adding, "This year, we will continue to enhance our corporate value through solid, quality growth."

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