GPB’s Transformation Widens EBITDA Margin
Key Highlights of Green Packet Berhad (“GPB/The Group/Group”) Performance:
- Group’s Q2’13 revenue increases to RM151.0m, rises 9% Y-o-Y
- Group’s Y-o-Y EBITDA increases to RM9.4m, improves by 116% Y-o-Y
- Operator pillar, P1’s cumulative subscribers as at Q2’13 is 553,000, increases by 12,000 from Q1’13.
- Greenpacket Solutions pillar contributed RM35.2m to Group revenue, mainly from the sale of 4G devices:
Total of 153,630 units shipped in Q2’13, up 48% Q-o-Q and 27% Y-o-Y.
KUALA LUMPUR, 6 August 2013: -Green Packet Berhad (“GPB/The Group”) implemented a business transformation plan that saw The Group achieve targeted business and financial results for the quarter. For the period ended June 30, 2013, The Group reported that its earnings before interests, tax, depreciation and amortization (“EBITDA”) climbed 116% Y-o-Y to RM9.4m.
Group Managing Director, CC Puan remarked that ‘the vehicle’ had been modified for the rough terrains while the destination is the same. He said, “We revised our strategies for better performance all-around in view of challenging market conditions and it is proving effective in getting us on track for 2013.”
Packet One Networks (Malaysia) Sdn Bhd (“P1”), the operator pillar, contributed RM73.8m to The Group’s revenue while Greenpacket Solutions (“Solutions”), which provides connectivity device and solutions to operators globally, contributed RM35.2m. The Group is consistent in growing its revenue with a 1% increase Q-o-Q, and 9% increase Y-o-Y.
P1’s net subscriber addition for Q2’13 was 12,000, with a cumulative total of 553,000. Meanwhile, Solutions’ shipped 153,630 units in Q2’13, increased by 48% Q-o-Q and 27% from the same period last year.
According to Puan, better cost management and lesser capital expenditure requirements for aggressive site roll out now that P1 had achieved comprehensive coverage should see EBITDA improve year on year. P1 added 21 new sites to close the quarter at 1902 sites. Puan added that P1’s network deployment strategy has incorporated its planned migration to LTE to ensure the most efficient and cost effective transition.