Saturday, July 03, 2010

Ooops! Green Packet Now Says...

Another superb weekend Saturday entertainment article on Green Packet.

Firstly, I just blogged on the Wednesday,
Green Packet Boss Keeps Saying EBITDA Positive... But...

In summary:

  • Feb 2008: we expect the WiMAX business to be ebitda (earnings before interest, taxes, depreciation and amortisation ) break-even this year,"
  • May 2008: we are targeting EBITDA positive by end of next year.
  • May 2009, P1 will be EBITDA will break-even from next year.
  • Feb 2010, concurred that will be EBITDA positive in the second half of this year.
  • May 10 the company remained optimistic that it will be able to achieve an Ebitda break even
  • June 2010, Green Packet Bhd’s target to turn earnings before interest, tax, depreciation and amortisation (Ebitda) positive by year-end may be delayed to next year

And the very latest, on today's business times..

  • For this year, its capex will be some RM250 million. It has already spent RM100 million on upgrading network and expanding coverage in the first half of the year.

    Puan added that Green Packet is maintaining that its Ebitda (earnings before interest, tax, depreciation and amortisation) will break even by the end of this year

    "Our target remains the same but SK Telecom has expressed a few strategies it may want us to look into which include being more aggressive in our coverage expansion, advertising and promotion and ensuring the customer's experience," he said.

    These considerations will require further investments, which in turn raises operating expenditure that could have an impact on its Ebitda.

    "We are currently consulting with our new shareholder and will share the new plan once it is firmed up within the next three to six months. They may want us to be a little more long-term in our plan to have a better market penetration instead of focusing on the financial," he said.

    However, he re-affirmed that the company will reduce its (net) losses and negative Ebidta as it improves on a quarter-on-quarter basis.

    Read more: Green Packet eyes region

Ooopsie daisy me!!!

The boss has now changed the tune again. From 'delayed to next year', it's now will break even by the end of this year.


He just cannot be serious!

ps: Capex this year 250 million! I thought it was supposed to be 300 million!!! ( see P1 Wimax: Honey Have You Cut It?)

ps: before this year, Green Packet had already spend some 300 million in capex.

ps/ps: where is my calculator.

ps/ps/ps: I wonder if I can count/estimate the return of investment.

ps/ps/ps/ps: some can really, really talk ...