KT announced on the 10th that its operating profit in the first quarter of this year based on consol..

KT announced on the 10th that its operating profit in the first quarter of this year based on consolidated financial statements was 506.5 billion won, up 4.2% from the same period last year. It met the stock market consensus (505.9 billion won).

KT’s sales reached 6.6546 trillion won, up 3.3 percent from the same period last year. In particular, sales of separate services were tallied at KRW 4.6948 trillion, reaching KRW 4 trillion for the first time in 14 years since 2010. Net profit was 393 billion won, an increase of 26.9 percent compared to the same period last year.

This is because both B2C and B2B businesses have grown, and key portfolios such as the Artificial Intelligence Contact Center (AICC), the Internet Data Center (IDC), and real estate have succeeded in improving their performance.

Specifically, the number of 5G subscribers exceeded 9.95 million, or 74% of all handset subscribers, and wireless service sales grew 1.9% year-on-year due to the growth of the roaming business and the expansion of the MVNO market. The wired business also expanded by 1% compared to the same period last year due to the net increase in high-speed Internet subscribers.

Corporate service business sales recorded 895 billion won due to increased demand for artificial intelligence conversion (AX) to existing corporate Internet and data businesses. Five major growth projects, including AICC, Internet of Things (IoT), smart mobility, smart space, and energy, also increased sales thanks to orders for large businesses.

K-Bank surpassed 10 million users in the first quarter of this year. As of the end of the first quarter of this year, it was calculated as K-Bank’s receiving balance of 24 trillion won and credit balance of 14.8 trillion won. K-Bank is preparing to go public within this year. BC Card’s operating profit improved as risk management and sales management expenses were efficiently executed.

KT Estate’s sales increased 20.3% year-on-year due to balanced growth between pre-sale and rental businesses. The stable operation of Le Meridian & Moxie Hotel and the room share (OCC) of hotels such as Sofitel Ambassador increased.

Meanwhile, KT introduced quarterly dividends from this year through the revision of the articles of incorporation at its regular shareholders’ meeting in March. In the first quarter of this year, 500 won per share will be distributed in cash. It also announced on the 9th that it would retire 5,143,300 treasury stocks it holds to enhance shareholder value.