Recording S$437m Revenue Over Nine Months
Singapore, 28 February 2002 -- StarHub, Singapore’s leading provider of innovative infocommunications services, today announced that it has achieved a turnover of S$437 million for the nine months ended 31 December 2001. EBITDA for the nine months was negative S$83 million as compared to negative S$188 million in the previous 12 months. Net profit after IDA Compensation and accounting for deferred tax credit amounted to S$100 million.
The Company has changed its fiscal year to coincide with the calendar year. As such, all financial figures for fiscal year 2001 are for nine months.
The Mobile line of business remained the Company’s biggest contributor to total revenue at 59%. Contributions from the Mobile line of business amounted to S$260 million for the nine months versus S$169 million for the previous 12 months.
Mobile turnover per month for FY2001 was an average of S$29 million, as compared to an average of S$14 million per month in FY2000, representing an increase of 105%.
The Company’s Data line of business posted turnover of S$98 million for the nine months against S$63 million for FY2000.
Monthly data turnover for FY2001 recorded an average of S$11 million, doubling the average turnover of S$5 million per month for FY2000.
"Despite a competitive and challenging environment, StarHub managed to achieve substantial growth in practically all of its lines of business, reflecting increasing customer recognition of the innovation and value StarHub’s services have brought to the market," said Mr Terry Clontz, President and CEO of StarHub.
Segmental Highlights for FY2001
As at 31 December 2001, StarHub captured 16 per cent of the total Singapore mobile market at 460,000 customers, up from 329,000 in March 2001. This represents an increase of 40 per cent over nine months.
During the nine months under review, the Company unveiled Gee!, a full suite of mobile data services. StarHub now has over 1,000 mobile base stations in operation, almost double the number it had at launch, delivering excellent coverage and capacity.
StarHub’s Domestic Wholesale
Since March 2001, the Company increased its customer base by more than 56%. This segment contributed 21% to total revenue.
StarHub’s Voice Services - IDD
As a result of its innovative suite of services and amidst intense competition, the Company was able to capture 12% of the market share.
StarHub’s Business Markets
The Company continued to enlarge its market share among major MNCs and SMEs, and tripled its total customer base to 760 over the nine months, brought about mainly by compelling service offerings and aggressive marketing initiatives.
Todate, more than 600 commercial buildings mainly in the Central Business District (CBD) have been directly connected to StarHub’s broadband fixed network.
The Company expects to conclude its merger with the Singapore Cable Vision around the middle of 2002, to fulfill its vision of being a full service infocomms company.
In the pipeline for Mobile services are plans to launch multimedia messaging services as well as Java-based games and applications.
"No doubt, the past year of economically rough water has not been kind to others in our industry around the world who are relatively new players. However, by staying focused on serving customers well and delivering to them excellent value while investing rationally and wisely, StarHub has remained on course in achieving its financial targets," added Mr Clontz.
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