The following is a summary of the KT Corporation (KT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• KT reported Q1 2024 consolidated revenue of KRW 6,654.6 billion and separate basis revenue of KRW 4,694.8 billion, reflecting growth from last year.

• Separate basis operating profit grew 1.5% YoY, reaching KRW 393.8 billion, with consolidated operating profit increasing 4.2% YoY to KRW 506.5 billion.

• There was also an increase of 26.9% YoY in net income, reaching KRW 393 billion.

• EBITDA saw a YoY growth of 4.6%, amounting to KRW 1,480.2 billion.

• Total CapEx spend for KT and its main subsidiaries in Q1 was a total of KRW507 billion.

• The debt-to-equity ratio at the end of March 2024 stood at 129.8%.

Business Progress:

• KT aims to transform into an AI CT company, focusing on reinforcing core competitiveness and discovering new business opportunities based on AI.

• 5G subscribers account for more than 74% of total handset subscribers, surpassing 9.95 million subscribers.

• There was a 2.1% YoY growth in Broadband Internet revenue and a 2.3% YoY growth in Media business.

• B2B service revenue and KT Cloud revenue also experienced a rise with 5% YoY growth and 17.8% YoY growth respectively.

• KT Estate revenue saw significant growth, registering an increase of 20.3% YoY.

• Plans are in place to provide distinctive AX services that integrate AI solutions with incumbent telco services.

• A cash dividend of KRW 501 per share was announced for the first quarter.

More details: KT Corp IR

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