Mobitel posts revenue growth of 13 % in 2012
Sri Lanka Telecom Mobitel, said its financial results for FY2012 had
recorded an impressive revenue growth of 13% in 2012 despite intensified
competition in the mobile telephony sector. In absolute terms, Mobitel
recorded revenue of Rs 24.93 billion in 2012 compared to Rs 22.08
billion in 2011, an increase of Rs.2.85 billion.
This growth was realized mainly due to the increase in Mobitel’s
subscriber base by 14% which is a remarkable achievement, considering
the fact that the voice market has reached 100% penetration by 4Q 2012
according to the Telecom Regulatory Commission of Sri Lanka (TRCSL).The
growth in Mobitel’s subscriber base can be attributed to various factors
including Mobitel’s continuous commitment and investments made towards
scaling and upgrading its network infrastructure.
Completion of the stage VI project in mid-2012 led to significant
enhancements in network coverage and capacity that has translated into
better customer experience. An innovative product suite, a comprehensive
service offering and an extensive reach to the furthest corners of the
island also contributed towards significant growth in subscribers and
revenue.
Prudent cost management initiatives coupled with measures to enhance
productivity contributed to help negate the adverse impact of increased
operational expenditure.
The company recorded a growth in key profitability indicators EBITDA
and EBIT which increased by 21 % and 20 % respectively compared to 2011.
In absolute terms EBITDA reached Rs. 8.28 billion while EBIT was
recorded at Rs 3.24 billion. The company EBITDA margin improved from 31
% to 33 % which further endorses the operational efficiency of the
organisation.
Thus, during 2012, Mobitel delivered a commendable performance
successfully overcoming the challenges encountered, recording PBT
(normalised to exclude exchange loss) of Rs. 2.98 billion and PAT of
2.43 billion, recording growth of 34 % and 38 % YoY respectively the
highest ever normalised profits recorded.
|