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P1 has 517k Subscribers as of 2012, LTE rollout in Q2 this year

Green Packet Berhad in its financial results for the fourth quarter and full year ended December 31, 2012 announced today that Packet One(P1) has 517,000 subscribers as of end of 2012.

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In the 4Q12, P1 rolled out 77 new WiMAX sites increasing its total number of base station to about 1900 sites. The service provider posted a better than industry average churn rate of 4.9% while its ARPU increased to RM81.

In a media statement, Puan Chan Cheong, Group Chief Executive Officer and Group Managing Director of Green Packet Berhad 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,”.

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.

Green Packet reported a 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.

About Kugan

Kugan is the founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy