The following is a summary of the KT Corporation (KT) Q1 2024 Earnings Call Transcript:
Financial Performance:
KT reported Q1 2024 consolidated revenue of KRW 6,654.6 billion and separate basis revenue of KRW 4,694.8 billion, reflecting growth from last year.
Separate basis operating profit grew 1.5% YoY, reaching KRW 393.8 billion, with consolidated operating profit increasing 4.2% YoY to KRW 506.5 billion.
There was also an increase of 26.9% YoY in net income, reaching KRW 393 billion.
EBITDA saw a YoY growth of 4.6%, amounting to KRW 1,480.2 billion.
Total CapEx spend for KT and its main subsidiaries in Q1 was a total of KRW507 billion.
The debt-to-equity ratio at the end of March 2024 stood at 129.8%.
Business Progress:
KT aims to transform into an AI CT company, focusing on reinforcing core competitiveness and discovering new business opportunities based on AI.
5G subscribers account for more than 74% of total handset subscribers, surpassing 9.95 million subscribers.
There was a 2.1% YoY growth in Broadband Internet revenue and a 2.3% YoY growth in Media business.
B2B service revenue and KT Cloud revenue also experienced a rise with 5% YoY growth and 17.8% YoY growth respectively.
KT Estate revenue saw significant growth, registering an increase of 20.3% YoY.
Plans are in place to provide distinctive AX services that integrate AI solutions with incumbent telco services.
A cash dividend of KRW 501 per share was announced for the first quarter.
More details: KT Corp IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.