KT’s operating profit decreased somewhat, but the company posted a quarterly report card with a significant increase in sales due to the growth of the B2B sector.
KT announced on the 10th that it recorded a consolidated sales of 6.3 trillion won and operating profit of 459.2 billion won in the second quarter.
Revenue increased 4.7% year-on-year, and operating profit decreased by 3.5% over the same period.
Separate revenue increased 0.9% year-on-year to 4.45 trillion won, and operating profit decreased 13.6% YoY to W33.5bn.
Due to the increase in costs due to changes in foreign environments such as inflation and one-off labor costs, operating profit decreased year-on-year, but its business growth continued due to the Digico B2B-centered growth and successful group portfolio reorganization.
In the wired / wireless communication business, the number of 5G subscribers continued to increase. 5G subscribers recorded 7.47 million, or 54%of all handset subscribers. Home wired telephone sales decreased 3.4% year-on-year, but the proportion of Giga Internet sales increased by 2.5% year-on-year as the demand for high-quality Internet services increased.
The IPTV business has increased sales by 6.1% year-on-year thanks to the reorganization of the Choice Plan, which can select content.
It is noticeable that the order amount of the B2B business has grown 33% year-on-year in the first half of the year.
First of all, in the B2B platform business, the AICC project won large-scale construction projects, especially in the financial sector, and sales in the first half exceeded the previous year’s annual sales.
The company’s business for B2B customers increased by 5.9% year-on-year due to the increase in traffic in large CP companies and the expansion of premium services. Company currency sales increased 8.9% year-on-year due to the expansion of currency DX services and MVNO markets.
Content subsidiaries such as KT Group’s KT Studios Geni and Nas Media grew 34.7% year-on-year due to growth in all areas such as content, advertising, and commerce.
The drama ‘Strange Lawyer Woo Young-woo’ and the entertainment ‘I SOLO’ have significantly increased the recognition of Skytives’ ENA channel brand, and established a virtuous cycle system that leads to content planning, production, platform and distribution.
With the decision to merge the season and Teabing, the domestic No. 1 OTT platform was connected to a axis of KT Group Media Value Chain, and Nasmitider’s digital advertising and T-commerce business also recovered from Corona.
Founded in April of this year, KT Cloud has solidified its leadership in the public cloud category and continues to grow double digits.
Financial businesses are also growing. BC card sales grew 9.3% year-on-year due to the increase in credit card purchases and expansion of financial assets due to domestic consumption improvement.
Following the last quarter, K-Bank achieved the surplus for the fifth consecutive quarter with the growth of all sales indicators such as the number of customers, reception and goddesses. At the end of the second quarter of this year, K-Bank’s subscribers were 783 million, up 330,000 from the end of the previous quarter, and the balance of receiving at the end of the second quarter was 12 trillion won and the credit balance was 8.7 trillion won.
KT Estate’s sales grew 46.3% year-on-year as they recovered from hotel sales such as Andas (Shrine) and Sofitel (Songpa) in the corona end-meimick atmosphere.
Kim Young-jin, KT CFO, said, In the first half of this year, the strategy was to lead the digital conversion (DX) of the domestic industry and expand the playground to expand the existing business area to receive the value of KT. I will make a growth story and prove my performance.