China Unicom’s revenue growth hit fastest in nine years in 2022

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

China Unicom, one of the country’s largest telecoms operators, said its revenue reached 354.9 billion yuan in 2022, rising by 8.3% from the previous year, the fastest growth in nine years. 

The company’s EBITDA reached 99.2 billion yuan, marking the highest since its public listing. Profit attributable to shareholders reached 16.7 billion yuan, rising 16.5% from the year before. After deducting non-operating items, profit attributable to shareholders reached a new high since the company went public. 

The board of directors recommends paying a final dividend of 0.109 yuan per share, together with an interim dividend of 0.165 yuan per share already paid, making the total annual dividend at 0.274 yuan per share, rising 26.9% from a year ago.

In breakdown, China Unicom’s service revenue reached 319.3 billion yuan, rising by 7.8% from a year earlier. Revenue from industrial internet reached 70.5 billion yuan, growing by 28.6% from a year ago and accounting for 20% of its total revenue, the highest ratio on record.

As of the end of 2022, China Unicom had 860 million users, marking a new record high, it said.