Q4 2024 KT Corp Earnings Call Transcript
Key Points
- KT Corp (KT) achieved a historical record in consolidated revenue, reporting KRW26,431.2 billion, the highest since going public in 1998.
- The company entered a strategic partnership with Microsoft to transform into an AICT company, focusing on structural profitability improvements.
- KT Corp (KT) reported a 9.8% year-on-year increase in operating profit, excluding one-off impacts, indicating stronger fundamentals.
- The company plans to launch Korea-specialized AI models and secure public cloud services in partnership with Microsoft, aiming for B2B AX business growth.
- KT Corp (KT) increased its annual dividend per share from KRW1,961 in 2023 to KRW2,001 in FY24, reflecting a shareholder-friendly management policy.
- Operating profits fell 50.9% year-on-year due to one-off labor costs from workforce restructuring.
- Net profits declined 54.5% year-on-year to KRW450.1 billion, impacted by decreased operating profits.
- Operating expenses increased by 3.6% year-on-year, driven by workforce revamping and higher depreciation.
- BC Card revenue decreased by 5.4% year-on-year due to a decline in acquiring volume.
- KT Skylife revenue fell by 1.5% year-on-year, affected by pay TV subscriber declines.
Good morning and good evening. Thank you all for joining this conference call, and now we'll begin the conference of the fourth quarter of fiscal year 2024 earnings results by KT. We would like to have welcoming remarks from Ktir O, and then CFO will present earnings results and take your questions. (Operator Instructions) Now we would like to turn the conference over to KT's IRO.
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Good afternoon. I'm KT's IRO, Young-Kyun Yoon. We will begin KT's 2024 full year earnings presentation. This earnings release call is being webcast live on the company's website, so you can listen in on the call and follow the presentation slides as we go along.
Let me remind you that today's presentation includes financial estimates and operating results under the K-IFRS standards that are yet to be reviewed by an outside auditor. We therefore cannot ensure accuracy nor completeness of financial and business data aside from the historical actuals. So please
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