GREEN PACKET BOASTS STRONGER POSITIVE EBITDA OF RM9.2 MILLION IN 3Q
Records 19% increase in group revenue to RM159.8 million
- Group EBITDA increases to RM9.2 million, a 527% improvement Y-o-Y
- Group revenue for 3Q 2012 of RM159.8 million – an increase of 19% Y-o-Y
- P1 Pillar EBITDA contributes RM8.4 million, surges 49% in Q-o-Q, 182% Y-o-Y
- Revenue from P1 pillar improves 14%Y-o-Y through improved churn rate of 2.7% and strong ARPU of RM78
- Exceeds 500,000 total subscriber base with 505,000 total, from last quarter’s 467,000
During the third financial quarter, Green Packet Berhad (The Group) delivered higher revenue of RM159.8 million, a 16% rise from RM138.3 million in quarter-on-quarter comparison. It also registered a better-than-expected RM9.2 million EBITDA in 3Q, 114% up from previous quarter’s RM4.3 million. Thus the Group has recorded three consecutive EBIDTA positive quarters throughout this year.
“It has been a good quarter for Green Packet against the backdrop of an overall lackluster period for the industry. We kept on saying the Group would turn-around and transform this year and so far we have delivered on this objective. We believe the positive trend will continue if we remain financially-disciplined in our operations and by applying stringent cost controls,” said Puan Chan Cheong, Group Chief Executive Officer and Group Managing Director of Green Packet Berhad.
The Group’s P1 pillar contributes RM82 million to the Group’s revenue and registers a positive EBITDA of RM8.4 million for the third quarter 2012. This represents a 182% improvement y-o-y from the loss reported previously.
An additional 38,000 customers signed up for P1’s latest broadband plans and services, lifting total number of subscribers to 505,000 as at end of September 2012. It has thus exceeded the expectation of 500,000 total subscribers target by year-end and reached its new milestone of 500,000 subscribers ahead of target.
It also posted a better than industry average Churn rate of 2.7% and a favourable APRU of RM78.