CTM’s revenues fall 4.5%

19 Feb 2014

Hong Kong’s Citic Telecom, the parent of Companhia de Telecomunicacoes de Macau (CTM), has reported that turnover at Macau’s largest telecoms group fell by 4.5% in 2013 to HKD4.56 billion (USD588.3 million), with the decrease mainly attributed to lower sales of smartphones. As reported by Macau Business Daily, CTM’s total revenue from sales of telecoms equipment including handsets slipped by 7.7% to HKD3.0 billion in the year, whilst fixed line revenue fell 18.4% to HKD428.5 million, which Citic said was ‘in line with the worldwide trends of declining fixed IDD traffic volumes, and fixed residential lines gradually being replaced by mobile services’. The parent company added that the completion of new hotels in Macau last year had prevented CTM’s revenue from fixed line services from falling further. CTM’s consolidated adjusted EBITDA was reported at HKD734.8 million in full-year 2013, although Citic gave no comparative figure for adjusted EBITDA in 2012, as it became the majority shareholder in CTM in June 2013, when it increased its stake to 99% from 20%. The parent company gave no net profit figure for CTM, either. CTM’s net profit in 2012 was USD121.2 million, a record figure.

CTM had 281,768 post-paid mobile subscribers at the end of 2013, 3.5% more than a year earlier, while its ARPU rose by 17% to HKD118. The company is also confident of gaining a 4G mobile licence ‘soon’, while its parent firm added that CTM was aiming to connect all residential buildings to its optical fibre network this year.

Separately, Citic Telecom’s annual net profit rose by over 131% last year to HKD1.06 billion because of its takeover of CTM.

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