The world’s largest telecommunications tower infrastructure service provider, China Tower Corporation Limited (OTC PINK: CHWRF), announced its annual results for the twelve months ended December 31, 2018.
Performance Highlights
| RMB million | 2018 | 2017 | Change |
| Operating revenue | 71,819 | 68,665 | +4.6% |
| Operating profit | 9,081 | 7,715 | 17.7% |
| EBITDA | 41,773 | 40,357 | +3.5% |
| Profit for the year | 2,650 | 1,943 | +36.4% |
| Earnings per share (RMB Yuan) | 0.0179 | 0.0150 | +19.3% |
| Dividends per share (RMB Yuan) | 0.00225 | N/A | N/A |
| Gearing Ratio | 34.4% | 53.8% | -19.4pp |
| Key Operating Data | |||
| Number of sites (thousand) | 1,947.6 | 1,872.2 | +4.0% |
| Number of tenants (thousand) | 3,009.2 | 2,687.5 | +12.0% |
| Tenancy ratio (tenant / site) | 1.55 | 1.44 | +7.6% |
In 2018, the revenue from the company’s tower business reached $10.23 billion, accounting for 95.5 percent of total operating revenue, representing an increase of 2.3 percent over 2017. Distributed antenna system (DAS) business recorded revenue of $270 million, accounting for 2.5 percent of total operating revenue, representing an increase of 41.7 percent from the previous year. Trans-sector site application and information (TSSAI) business recorded revenue of $180 million, accounting for 1.7 percent of total operating revenue, representing an increase of more than six times over a year ago.
As of December 31, 2018, the company was managing a total of 1.95 million sites and serving more than three million tenants, representing growth of 4 percent and 12 percent, respectively, from the previous year. The tenancy ratio increased from 1.44 in 2017 to 1.55, reflecting continued improvement in site co-location efficiency.
“Looking to the future, the internet, big data and artificial intelligence will become increasingly intertwined with the ‘real’ economy, as the digital economy and smart society take hold,” said Chairman and General Manager, Tong Jilu. “In view of the new industry landscape and information technology revolution that will arise from the 5G era, we will strive to capture emerging opportunities, while also deepening our resource sharing strategy. Serving TSPs will remain our overarching focus, supplemented by the TSSAI and energy operation businesses.”
March 5, 2019
Reader Interactions