 HKBN Dragon Boat team - united and synchronised in the pursuit of success
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Dear Friends of HKBN
HKBN Ltd. Announces Strong FY2016 Results
Surging Forward with Enlarged Customer Base & Quad-play Strategy
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Today we reported strong financial and business performance for the year ended 31 August 2016 (“FY2016”). During the period, the Company accelerated strong subscription growth in both residential and enterprise businesses, setting a strong foundation for a promising future with our enhanced quad-play strategy. Key highlights of FY2016 results include:
- Revenue, EBITDA and Adjusted Free Cash Flow continued to grow year-on-year at 19%, 3% and 4% respectively to HK$2,784 million, HK$1,006 million and HK$406 million.
- Net additions of residential broadband subscriptions accelerated to 103,000 (2015: 62,000), with our market share by broadband subscriptions increasing to 40.1% as of 31 August 2016, up from 36.6% as of 31 August 2015.
- This set of results included 5 months of consolidation from our New World Telecom acquisition which drove our enterprise revenue growth of 70% year-on-year to HK$811 million.
- The Board of Directors has recommended the payment of a final dividend of 20 HK cents per share. (2015: 20 HK cents per share) resulting in a full year payment of 40 HK cents per share (2015: 20 HK cents per share).
Strong residential subscription growth driven by attractive content bundles
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Chief Executive Officer and Co-Owner William Yeung (right) and Chief Talent & Financial Officer and Co-Owner NiQ Lai at the results announcement.
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Residential revenue grew by 3% year-on-year to HK$1,815 million as we accelerated gains in residential broadband subscriptions by working closely with two major OTT content partners, TVB and LeEco, to launch our best-value content-bundled services in the market. Our strategic focus to grow market share led us to achieve accelerated 103,000 net additions for a total of 857,000 residential broadband subscriptions, a significant increase of 14%, which sets a very strong base for us to harvest later.
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Stimulating enterprise subscription and revenue growth contributed by integration with NWT
Our enterprise revenue grew by 70% year-on-year to HK$811 million, driven primarily by the 5 months of consolidation on New World Telecom (“NWT”) integration. Strengthening our presence in the enterprise market, the enlarged business has provided a broad range of complementary services to the existing business. As a result of integration, we achieved net additions of 11,000 enterprise customers while increasing our enterprise ARPU by 22% at HK$1,234 during the financial year. Our market share by broadband subscriptions increased to 17.8% as of 31 August 2016, up from 14.3% as of 31 August 2015.
Surging forward to a promising future
“Our business is surging forward on a strong foundation,” said CEO and Co-Owner William Yeung , Chief Executive Officer and Co-Owner, and CTFO and Co-Owner NiQ Lai, Chief Talent & Financial Officer and Co-Owner, of HKBN. “With strategic partnerships with mobile carriers and OTT content providers, we are well-equipped to seize the enlarged market opportunities with our best-value quad-play (broadband, mobile, content and home telephone) bundles, which give us a lot of room for revenue growth. We also see a lot of synergies in enterprise business after integration with NWT. Like a team of athletes at the pinnacle of their sport, embracing every new challenge, we will push forward with a relentless drive We will continue to grow our business through higher network penetration, more people and more products to serve our customers.”
For details of HKBN’s results in FY2016, please click the links below:
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As leaders of the HKBN elite sports team, our Senior Management captains (from left to right: CMO Selina Chong, CTO Gary McLaren, CTFO NiQ Lai, CEO William Yeung, CIO Eric Ho, and COO Billy Yeung) are ready to take on new challenges on the path for conquest. |
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Faced with a target to deliver extraordinary OTT results, 1800 -plus Talents in Hong Kong stand united as one to take our business to all new heights (March 2016). |
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Hailing our entry into the mobile services arena, over 1200 Talents in Guangzhou are eager to bring the fight to our competitors (September 2016). |
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