Taipei, Taiwan - October 11, 2024 - Far EasTone Telecommunications (TAIEX: 4904) today announced its unaudited financial results for September 2024. Benefiting from the synergies of the merger with APT, the launch of new iPhone models driving customer upgrades to 5G, and the continued growth of prepaid and roaming services, the consolidated total revenue for September reached NT$9,121 million, representing a year-over-year growth rate of 6.3%. Consolidated EBITDA and net income both achieved strong double-digit growth rates of 11.6% and 15.0%, respectively, reaching NT$3,038 million and NT$1,084 million. Earnings per share (EPS) for September was NT$0.30.
For the first nine months this year, FET's consolidated total revenue, consolidated EBITDA, and net income grew by 12.2%, 12.5%, and 10.0% year-over-year, reaching NT$75,455 million, NT$26,930 million, and NT$9,187 million, respectively. EPS for the first nine months of 2024 was NT$2.55. Both consolidated EBITDA and EPS for the third quarter exceeded company financial guidance, reaching 102% and 109% of the targets, respectively, showcasing impressive operational performance.
In September, FET's mobile business continued to rise steadily, with the new iPhone models driving a wave of 5G upgrades. This contributed to an increase in 5G penetration rate to nearly 42%, and the average revenue per user (ARPU) for postpaid users remained the highest in the industry. Overall mobile service revenue achieved a year-over-year growth rate of 17.3%, consistently surpassing the NT$5 billion mark, marking 43 consecutive months of positive growth since March 2021.
FET's second growth curve continued to grow, with new economy revenue achieving an annual growth rate of 11% in September 2024. This includes smart ICT solutions for enterprise clients and various digital services for consumers, such as handset insurance and FET friDay video service, all of which achieved double-digit YoY growth rates, contributing to the stable growth of the new economy business.
Far EasTone September 2024 Consolidated Financial Performance
Unit: NT$ million (except EPS) | Sep 2024 | YoY% | Jan - Sep 2024 | YoY% |
Cons. Total Revenue | 9,121 | +6.3% | 75,455 | +12.2% |
Cons. EBITDA | 3,038 | +11.6% | 26,930 | +12.5% |
Cons. Net Income | 1,084 | +15.0% | 9,187 | +10.0% |
EPS | NT$0.30 | - | NT$2.55 | - |
Note:
※ Calculated based on the total outstanding shares of 3605.7 million shares.
For more information, please go to www.fareastone.com.tw or www.fetnet.net .