Expanded consecutive positive EBITDA of RM14 m in 4Q alone

Key Highlights:

  • Group EBITDA increases to RM14 million
  • Highest EBITDA in one year RM31.2m (2012) since 2008
  • Group revenue for 4Q 2012 of RM162 million – an increase of 5% Y-o-Y
  • P1 Pillar EBITDA contributes RM7.1 million, 144% Y-o-Y
  • P1 pillar posted RM82 million revenue with stringent cost management
  • Exceeds 500,000 total subscriber base with 517,000 total, from last year’s 389,000
  • P1 has transformed to wireless and fixed fiber full-fledged broadband company
  • P1 expanded broadband and voice services to retail customers and business markets

KUALA LUMPUR, 25 February 2013 : Green Packet Berhad (The Group), the parent company of P1 which is a leading 4G/WiMAX broadband provider, reported its financial results for the fourth quarter and full year ended December 31, 2012.

The Group delivered slightly higher fourth quarter revenue of RM162.3 million, a 5% rise from RM154.6 million in year-on-year comparison. For FY2012, the Group posted RM588.6 million in revenue, an increase of RM50 million from last year’s RM538.5 million.

The Group also registered RM31.2 million EBITDA for FY2012. It posted its 5-consecutive-growth of RM14 million EBITDA in this fourth quarter, an increase from last quarter’s RM9.2million. The RM14 million EBITDA is the Group’s highest margin since Green packet was a solution provider in 2008. It recorded the first-ever RM1.1million EBITDA positive in same quarter last year.

"2012 was a transformative year for Green Packet," said Puan Chan Cheong, Group Chief Executive Officer and Group Managing Director of Green Packet Berhad. "We exited 2011 having successfully focused on our long-term business strategy and remained financially-disciplined in our operation. Based on that, we said that 2012 would be a year of accelerated product and services, and it was. The products we delivered throughout the year drove customer engagement and financial results to record levels in the fourth quarter."

Key Results
The Group’s P1 pillar contributed RM82 million to the Group’s revenue and registered a positive EBITDA of RM7.1 million for the fourth quarter of 2012, which represented a 1222% improvement y-o-y.

P1 had also reached new heights with its total subscriber base – surpassing the 500,000 subscriber benchmark it had set for 2012. In fact, it had already met and surpassed its target last quarter with 506,000 subscribers and achieved a new milestone of 517,000 subscribers by year-end.

In the same quarter, it also posted a better than industry average churn rate of 4.9% while its ARPU increased to RM81. Year to date, it managed an industry average churn rate of 4.4% and a favourable APRU of RM78.

“P1 is successfully leveraging its unique strategic position as a nationwide, full-fledged fixed, nomadic broadband and fiber optics operator with nearly 1,900 base stations throughout Malaysia. It has continued to invest in transformational initiatives and networks, especially with the newly launched 4G broadband in sub-urban areas and its new venture in Kota Kinabalu, Sabah, while delivering strong revenue performance,” said Puan.

As for the Greenpacket Solutions pillar, it has inked another quarter of solid performance with RM38 million in revenue. The growth was contributed by the device business as Greenpacket Solutions has steadily increased the market reach and completed several device shipments this quarter.

As to the Greenpacket Solutions pillar, it has inked another quarter of solid performance of RM38 million. Greenpacket Solutions continue to play a dominant role in the industry with it being accepted as a member of the Global TD-LTE Initiative, driving the proliferation of TD-LTE ecosystem. While its carrier software business continues its leadership in Wi-Fi QoS with the patent pending for the Signal Assisted Switching methodology and also completed several Interoperability exercises with leading infrastructure vendors to further expand market reach to North America, Europe, North Asia and South East Asia.

Future Outlook
“2013 will be an interesting and significant year, as we will see the next generation 4G technology – both Time-Division (TD) and Frequency-Division (FD) Long-Term-Evolution (LTE) gear up momentum. Currently, the Group’s 4G broadband technology is Time Division-LTE ready and the new spectrum licence allocation awarded recently is an added advantage, even in a stiff competitive environment,” Puan said.

“P1 is planning to roll out 4G TD-LTE on a combined 50MHz channel bandwidth in the second half of 2013 because we believe the user experience on LTE is important for our success,” He added.

On the East Malaysian market, P1 first entered the Kota Kinabalu market in the third-quarter of 2012 and saw healthy subscriber take-up. It is aiming to penetrate at least 70% of households in Kota Kinabalu while introducing its 4G services to Kuching sometime this year as it focuses on expanding its market reach in Sabah and Sarawak.

“Competition in any business is great and it is healthy to compete. Only good things can come out of competition; it usually makes us think out of the box, makes us creative and more innovative in the way we do things,” Puan said.

“The Greenpacket Solutions pillar is steadily expanding deployments with over 80 deployments of our devices and software solutions in over 66 countries. We are on track on the LTE+WiMAX device business front, as we have enlisted 11 operator trials for our new LTE+WiMAX devices located throughout Latin America, North America, South East Asia, Europe and Middle East,” Puan said

“Meanwhile, on the carrier software front, Mobile Data Offload and Carrier Wi-Fi Experience Management solutions continue with positive pick-up in the North American and European region. Plus, our recent patent pending of the Signal Assisted Switching methodology in Wi-Fi QoS asserts our market leadership going into the next generation of Wi-Fi experience. The next level of ANDSF technology leadership will see added synergies of offload and Wi-Fi experience through closer interoperability amongst industry leaders like Tekelec and Alcatel-Lucent .” Puan added.

Forward Looking Statements
This news release may contain forward looking statements by Green Packet Berhad that reflect management’s current expectation, beliefs, hopes, intentions or strategies regarding the future and assumptions in light of currently available information. These statements are subject to a number of risks and uncertainties that could cause actual results, performance or achievements to differ materially from those discussed in the forward looking statements. Such statements are not and should not be construed as a representation as to the future performance or achievements of Green Packet Berhad and Green Packet Berhad assumes no obligation to update any such statements.



About Green Packet Berhad
Listed on the Main Board of the Malaysian Bourse, Green Packet Berhad (“The Group”) aims to be the visionary global leader providing best connectivity to enrich lives. It provides best-of-class technologies, devices and services to simplify and enhance connectivity and communications. The Group offers a wide array of 4G and LTE products and services through its two main business pillars:

The Greenpacket Solutions pillar
Greenpacket Solutions provides 4G WiMAX global services, discounted and wholesale voice services are via its Alternative Voice Services group.

The P1 pillar
Packet One Networks (Malaysia) Sdn Bhd serves as the 4G operator and service provider arm, comprising of other companies or subsidiaries.

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Chua Tek Yan
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Green Packet Berhad

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