Green Packet announced its earnings and finally it achieved it's so called EBITDA positive. Oh yeah, do refer to the following posting for their countless promises on EBITDA positive: And Green Packet Now Says .............
But despite being EBITDA positive, the company recorded some 29 million in losses for the current reporting quarter.
Yeah and for the stats lover, that's 17 consecutive quarters of losses!
For the record:
1. May 21st 2008: Quarterly rpt on consolidated results for the financial period ended 31/3/2008 - loss of 3.354 million
2. Aug 20th 2008: Quarterly rpt on consolidated results for the financial period ended 30/6/2008 - loss of 6.579 million.
3. Nov 14th 2008: Quarterly rpt on consolidated results for the financial period ended 30/9/2008 - loss of 10.894 million
4. Feb 16th 2009: Quarterly rpt on consolidated results for the financial period ended 31/12/2008 - loss of 38.660 million
5. May 22nd 2009: Quarterly rpt on consolidated results for the financial period ended 31/3/2009 - loss of 22.550 million
6. Aug 13th 2009: Quarterly rpt on consolidated results for the financial period ended 30/6/2009 - loss of 28.167 million
7. Nov 12th 2009: Quarterly rpt on consolidated results for the financial period ended 30/9/2009 - loss of 32.869 million
8. Feb 11th 2010: Quarterly rpt on consolidated results for the financial period ended 31/12/2009 - loss of 95.612 million
9. May 13th 2010: Quarterly rpt on consolidated results for the financial period ended 31/3/2010 - loss of 44.753 million
10. Aug 16th 2010: Quarterly rpt on consolidated results for the financial period ended 30/6/2010 - loss of 35.900 million
11.Nov 15th 2010: Quarterly rpt on consolidated results for the financial period ended 30/9/2010 - loss of 28.912 million
12. Feb 16th 2011: Quarterly rpt on consolidated results for the financial period ended 31/12/2010 - loss of 100.112 million
13. May 24th 2011: Quarterly rpt on consolidated results for the financial period ended 31/3/2011 - loss of 37.893 million.
14. Aug 15th 2011: Quarterly rpt on consolidated results for the financial period ended 30/6/2011 - loss of 37.069 million.
15. Nov 23rd 2011: Quarterly rpt on consolidated results for the financial period ended 30/9/2011 - loss of 44.321 million.
16. Feb 23rd 2012: Quarterly rpt on consolidated results for the financial period ended 31/12/2011 - loss of 61.512 million.
17. May 23rd 2012 - loss of 29.735 million!!
Wanna count how much losses since their venture into this 'wonderful' business?
And yeah, after so much losses they have incurred the following was published on Business Times today: ( LOL! Apparently their talk is now shifted from their EBITDA positive to the BILLION dollar!!! )
- Green Packet aims for RM1b revenue by 2015
By Goh Thean Eu Published: 2012/05/24
GREEN Packet Bhd, a wireless networking technology developer and a mobile broadband service provider, aims to hit RM1 billion in revenue by 2015, partly helped by the expansion of its wireless broadband business.
"We believe mobile broadband is the way to go. In the future, we are not only looking at connecting people, but also machine-to-machine communications. Basically, everything that can be connected, will be connected.
"So, the growth potential in the wireless broadband is huge," said group managing director Puan Chan Cheong in an interview recently.
The company has two main businesses. One is its wireless broadband business - which is currently operated under its unit, Packet One Networks Sdn Bhd (P1). The other is its solutions business, which sells software and customer premises equipment like modems, to mobile operators.
The software helps mobile operators to manage their mobile data traffic more efficiently.
"The good news is that, both our pillars are expected to continue to grow at a healthy rate over the near to medium term."
The company - which saw red in its earnings before interest, tax, depreciation and amortisation (Ebitda) for the past four financial years - registered a "positive Ebitda" during the first quarter this year.
"Our main focus now is to ensure that we are able to sustain the Ebitda's positive trend," he said.
For the first quarter ended March 31 2012, the company posted a net loss of RM29.74 million, compared to RM37.89 million net loss in the same quarter last year. Revenue rose by five per cent to RM128.17 million.
The group recorded an Ebitda of RM3.9 million for the quarter, a 153 per cent jump year-on-year.
Its P1 pillar contributed about 85 per cent (or RM3.3 million) to the group's total Ebitda.
Puan explained that in the business of telecommunication, what is important is that the company is able to make profits operationally.
The company, for the full year ended December 31 2011, posted a net loss of RM85 million. A significant part of the net loss was contributed by the depreciation expenses of its wireless broadband equipment and infrastructure.
"We have invested a total of about RM1 billion in capital expenditure. These investments would need to be amortised over a 10-year period. So, this means we are looking at depreciation of about RM100 million a year," he said.
Green Packet Bhd is evaluating a few proposals from investment bankers on the possibility of listing P1 on the stock exchange.
"We are looking at a few proposals right now," said Puan.
He added that the company, as well as P1, remained open to the possibility of merger or partnership with its rivals.
"I think the industry is set for a consolidation. I think, eventually, there will be four to five players. We are currently the fourth largest broadband provider, after Telekom Malaysia Bhd, Maxis Bhd, Celcom (Axiata) Bhd," said Puan.
Posts
9 comments:
The company should change its name to 'Green Racket Bhd'...
bonny: On the Star Biz: http://biz.thestar.com.my/news/story.asp?file=/2012/5/24/business/11346826&sec=business, there's a photo attached. Don't they look so 'happy'?
ps: Why does our financial newspaper like to publish articles highlighting 'pre tax profits'? Are they suggesting that 'taxes' does not matter?
PCC will always be my favorite face on biz news...beady eyes, cynical smile...etc...absolutely great poster material...and Michael Lai has the look of some 'accused in the dock'...great pair, photographer's delight.
Hooray, Green Packet now at EBITDA positive now! I will buy big into this stock. No need to maintain the plant and equipment, no need to reinvest in capital expenses (in this high tech business). Moreover there are philanthropists giving close to 400 m loan without having to pay interest(?). More "water fish" putting in more money (private placements) some more as with years of loss, there is hardly any capital left. No need to pay tax, of course not lah, no making money mah!
LOL!
K C, you ok ah?
Finally they made it after ..... I lost count of how many quarters !
By the way, how did Green Packet ended up in this mess? They are making money quite some time ago !
Big Sea: Oh yeah... they finally made 'it'.
Yes, at one time they were making big bucks. Share was flying too. Then they decided they wanted to go in big into the telco business.
Here's an old star article back on 19 July 2007.
------
Thursday July 19, 2007
Green Packet back on track for optic roll-out
By YVONNE TAN
PETALING JAYA: Green Packet Bhd is back on track with its plans to roll out commercial broadband services in the country as part of its efforts to become a full-fledged telecommunications company (telco) by year-end.
The mobile broadband solutions provider has set aside between RM60mil and RM70mil this year to build up its broadband network.
Over the next three to five years, RM500mil in capital expenditure had been allocated mainly for this purpose, group managing director and chief executive officer Puan Chan Cheong said.
He cited operational problems, such as site acquisitions, for the delay in the company's rollout of commercial broadband services, which was originally slated for the second or third quarter of this year.
“These (problems) are 'pretty normal' actually,” he told StarBiz yesterday.
At the moment, the company's net cash stands at about RM250mil. Puan did not foresee problems in raising funds, either by bank borrowings or equity fund raising, should the need arose.
“Green Packet experienced tremendous growth in 2005, the year we were listed on Mesdaq. Last year and early this year, we were 'digesting' all this growth,” he said.
“Now, we have 'consolidated' and are back on track in taking the company to the next level.”
He noted that Green Packet would continue to expand via organic growth as well as acquisitions. “We are on an acquisition trail,” he said, but did not elaborate.
In terms of financial performance, he said: “We are confident that we will be able to deliver more than market consensus”.
Bloomberg had noted market consensus forecasting the group's revenue increasing to RM195.2mil and net profit rising to RM70.2mil in the current financial year ending Dec 31 (FY07).
For FY06, Green Packet made a net profit of RM56.1mil on revenue of RM98.9mil. The bulk of its revenue, 65%, came from Greater China while South-East Asia contributed the rest.
Puan said he expected “significant” contribution from the Middle East to kick in by mid-2008.
Green Packet moved to Bursa Malaysia main board yesterday. On this, Puan said: “We are happy. This is another corporate milestone for us and we will continue to create value for our shareholders”.
At the close yesterday, its shares finished 10 sen lower at RM5.60.
I went into one of the P1 outlet to check out the broadband, and just say thank you in 3 seconds. It is not what the consumer want.....
In turns When tuned into BFM grilling PCC this week, we are no 3 in the world....don't know how many times he said that....ya, maybe auntie will trust u.
No 3 in the world? Doing what?
Post a Comment