MVNO TrueMove H added 678,000 subscribers during Q213Written by Allan T. Rasmussen
The group’s revenue in second quarter of 2013 grew 10.6% year-on-year to THB 8.5 billion driven mainly by the growth of True’s MVNO/Reseller division “TrueMove H” subscriber base, while non-voice usage continued its strong growth.
Quarter-over-quarter, revenue declined 0.3% offset by seasonal declines in voice usage mainly from TrueMove’s prepaid segment.
True Mobile Group’s postpaid revenue grew 4.0% quarter-over-quarter, 38.6% year-on-year to THB 4.5 billion as the MVNO, TrueMove H continued to gain high-value postpaid customers.
Prepaid revenue declined 5.3% quarter-over-quarter, 13.8% year-on-year to THB 3.3 billion due to lower voice revenue from TrueMove’s prepaid customers, despite rising data usage among TrueMove H’s prepaid customers.
Non-voice revenue rose 5.1% quarter-over-quarter, 50.5% Year-on-year to THB 3.3 billion mainly on rising mobile Internet usage. Contribution from non-voice revenue to service revenue increased to 37.5% in 2Q13 from 35.6% in 1Q13 and 27.6% in 2Q12.
TrueMove H’s blended ARPU was THB 467 in 2Q13, declining from THB 491 in 1Q13 as its subscriber base was expanded beyond early 3G/ smartphone adopters to include lower tier customers while the proportion of prepaid subscribers also increased.
Product sales grew 26.5% year-on-year to THB 3.4 billion from rising popularity of smartphones (i.e. iPhone, Samsung) but declined 16.2% quarter-over-quarter mainly due to lower momentum of iPhone 5. During the quarter, TrueMove H launched two True branded smartphones and one tablet (True Beyond). More device-bundling packages as well as a wide range of content and applications were introduced.
Cash OPEX rose 13.7% quarter-over-quarter, 27.0% year-on-year to THB 6.4 billion driven mainly by higher selling and advertising expenses. Expenses related to network expansion also contributed to the year-on-year increase in OPEX.
EBITDA increased 4.4% year-on-year in line with rising revenue but declined 25.1% quarter-over-quarter to THB 1.2 billion from the significant increase in cash OPEX.
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