LG HelloVision Q2 Operating Profit 9.5 Billion KRW...1.3% Decrease YoY

[Asia Economy Reporter Koo Chae-eun] LG HelloVision announced on the 7th that it recorded sales of 270.1 billion KRW and an operating profit of 9.5 billion KRW. Sales decreased by 5.4% and operating profit decreased by 1.3% compared to the previous year.

LG HelloVision's cable TV subscribers remained steady at 4.155 million, the same as the previous quarter. The number of MVNO (Mobile Virtual Network Operator) subscribers was 630,000, down 33,000 from the previous quarter, but the LTE subscription rate reached a new high of 75.7%. The increase in internet subscribers is also notable. The number rose by 2,000 from the previous quarter to 759,000, reversing the declining trend that had continued since the first quarter of 2017 and turning into net growth.

However, the average revenue per user (ARPU) per cable TV subscriber was 7,164 KRW, down 244 KRW from the previous quarter. Internet ARPU increased by 191 KRW to 11,362 KRW, also the highest figure since the first quarter of 2017. MVNO ARPU slightly decreased to 21,837 KRW. An Jae-yong, CFO of LG HelloVision, said, “As synergies with LG Uplus become visible, the company is improving its structure with a focus on efficiency,” adding, “We will continue qualitative growth based on stable performance in the second half of the year.”

A representative of LG HelloVision stated, "In the first half of the year, we focused on improving quality through picture quality enhancement and channel expansion, expanding gigabit internet coverage, and introducing kids content ‘Idulnara’. Going forward, we plan to further strengthen product and service competitiveness to use it as momentum for performance improvement."