Total sales of 6 trillion 654.6 billion won and operating profit of 506.5 billion won
Increases of 3.3% and 4.2%, respectively
Balanced growth in B2C and B2B businesses
Clear improvement in performance in IDC, cloud, real estate, etc., ‘[Edaily Kim Hyun-ah reporter] KT achieved results in the first quarter of 2024 that met market expectations thanks to balanced growth in B2C, B2B businesses, and performance improvement in KT Group’s core business portfolio.’,
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, ‘KT (030200) announced that its consolidated sales for the first quarter of 2024 were 6 trillion 654.6 billion won, and separate sales were 4 trillion 694.8 billion won, showing growth of 3.3% and 1.6%, respectively, compared to the same period last year. ‘,
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, ‘In particular, separate service sales reached 4 trillion 406 billion won, surpassing 4 trillion won in service sales for the first quarter for the first time in about 14 years since 2010.’,
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, ‘Consolidated operating profit recorded 5.065 trillion won, an increase of 4.2% year-on-year due to strong performances in both fixed and mobile businesses, as well as profit improvement in core business areas of the KT Group such as IDC, cloud, and real estate.’,
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, ‘Separate operating profit amounted to 393.8 billion won, an increase of 1.5% year-on-year despite increased business expenses due to inflation, driven by sales growth and efficient marketing activities.’,
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, Wireless business grows by 1.9%,
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, ‘In the wireless business, wireless service revenue grew by 1.9% year-on-year due to surpassing 9.95 million 5G subscribers, accounting for 74% of the total handset subscribers, growth in roaming business, and expansion of the mobile virtual network operator (MVNO) market.’,
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, ‘In January, KT expanded customer choices for 5G rate plans by introducing 10 low-cost 5G rate plans and 8 direct rate plans called “Yogo.” KT plans to continue providing differentiated customer experiences through customized rate plan offerings and product innovations.’,
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, ‘Wired business continued its revenue growth by 1.0% year-on-year. Revenue from high-speed internet services increased by 2.1% year-on-year due to a net increase in gigabit internet subscribers and the launch of the Wi-Fi model “KT Wi-Fi 6D” and differentiated value-added services.’,
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, ‘Media business saw a 2.3% revenue growth year-on-year, driven by the expansion of IPTV subscribers and premium rate plan sales. Recently, KT announced a vision to lead the AI transformation in the media industry by presenting media-specialized AI technologies such as “Magic Platform” at the “Media Day.”‘,
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, Enterprise business grows by 5.0%,
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, ‘Amidst steady growth in corporate internet/data services and increased demand for existing large-scale projects and AX services from enterprises, enterprise services recorded a 5.0% revenue growth year-on-year, reaching 895 billion won.’,
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, ‘With the surge in demand for AX services from domestic companies spurred by the rise of generative AI, KT plans to swiftly respond to enterprise customer demand by offering AX communication services integrated with AI solutions and industry-specific AX services.’,
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, ‘The 5 major growth businesses including AICC/IoT/Smart Mobility/Smart Space/Energy saw a 4.9% revenue growth year-on-year, focusing on securing contracts from large businesses and expanding customer base centered around AICC and IoT.’,
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, ‘Clear improvement in performance with IDC/Cloud·Real estate‘,
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, ‘KT Group showed a clear improvement in revenue and operating profit in its core business portfolio.’,
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, ‘First, K-Bank reported year-on-year increases of 44.1% and 23.6% in year-end balance of deposits at 24 trillion won and loans at 14.8 trillion won, respectively. The customer base also surpassed 10 million in the first half of this year. K-Bank plans to apply for preliminary listing review within the first half of this year based on this growth trajectory and aims to be listed by the end of the year. BC Card significantly improved its operating profit year-on-year through stable risk management and efficient sales management execution.’,
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, ‘KT Estate increased its revenue by 20.3% year-on-year through balanced growth in housing sales and rentals.’,
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, ‘In particular, with stable operations of Le Meridien & Moksi Hotel opened in November 22 and steady growth in OCC (Occupancy Rate) with hotels such as Sofitel Ambassador, KT Estate continued structural growth.’,
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, ‘KT Cloud recorded a 17.8% revenue growth year-on-year based on the increase in global customer-centric colocation revenue and contract wins in the DBO (Design·Build·Operate) business.’,
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, ‘KT Cloud shared its business strategy at the “KT Cloud Summit 2024” event held on the 2nd, focusing on expanding IDC business to meet the growing demand for AI infrastructure and expanding service models in line with the full-scale adoption of cloud-native.’,
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, Announcement of share buyback plan,
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, ‘In March, KT introduced quarterly dividends starting from 2024 through a change in its articles of incorporation. Recently, it announced a cash dividend of 500 won per share for the first quarter. Additionally, in a filing on the 9th of this month, it stated that it would buy back 2% of its held treasury shares, or 5,143,300 shares, out of 4.41% for the enhancement of shareholder value.’,
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, ‘KT CFO Jang Min said, “KT Group was able to deliver results in line with market expectations through the stable growth of B2C, B2B businesses, and group companies.” He added, “We will secure future growth engines through the leap to an AICT company and strive to increase both corporate and shareholder value.”.’,
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