KT Corp (KT) on Q1 2019 Results - Earnings Call Transcript

May 03, 2019 8:00 AM ETKT Corporation (KT)
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KT Corp (NYSE:KT) Q1 2019 Earnings Conference Call May 3, 2019 2:00 AM ET

Company Participants

Seung-Hoon Chi - IR Officer

Kyung-Keun Yoon - CFO

Conference Call Participants

Jong In Yang - Korea Investment & Securities Co.

Joonsop Kim - KB Securities

Seyon Park - Morgan Stanley

Operator

Good morning and good evening. First of all, thank you all for joining this conference call. And now we will begin the conference of the fiscal year 2019 First Quarter Earnings Results by KT. We would like to have welcoming racks from Mr. Seung-Hoon Chi, KT IRO; and then Mr. Kyung-Keun Yoon, CFO, will represent earnings research and entertain your questions. This conference will start with a presentation followed by a Q&A session. [Operator Instructions].

Now we would like to turn the conference over to Mr. Seung-Hoon Chi, KT IRO.

Seung-Hoon Chi

Good afternoon, I am Seung-Hoon Chi, KT's IRO. This earnings release call is currently being webcast via our website and you can follow the slides as you listen in on the call. Let us now begin KT's Q1 2019 earnings presentation.

Please note that KT's earnings are presented based on consolidated financial statement as under the IFRS standards. We will begin with our CFO, Kyung-Keun Yoon, opening remarks followed by highlights on Q1 2019 results.

Kyung-Keun Yoon

Good afternoon. I am KT's CFO, Kyung-Keun Yoon. Despite difficult market conditions in the first quarter driven by solid growth from core businesses of Wireless, Internet and Media businesses, KT was able to bring growth in revenue of 2.2% and operating profit of 1.3% year-over-year. For the wireless business in Q1, there was 169,000 MNO subscriber net additions with total reaching 21.330 million subscribers. Especially, there was an increase of 56,000 handset subscribers who are mostly prime customers taking out data on rate plans, driving 0.2% year-over-year growth in wireless service revenue.

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