| KEY FINANCIAL DATA | 2019 | 2018 | Change YoY |
|---|---|---|---|
| Operating Revenue (RMB billions) | 290.51 | 290.88 | -0.1% |
| Of which: Service Revenue | 264.39 | 263.68 | 0.3% |
| EBITDA1 (RMB billions) | 94.36 | 84.91 | 11.1% |
| As % of Service Revenue | 35.7% | 32.2% | 3.5pp |
| Net Profit2 (RMB billions) | 11.33 | 10.20 | 11.1% |
| Basic EPS (RMB) | 0.370 | 0.333 | 11.1% |
| Free Cash Flow3 (RMB billions) | 26.4 | 47.5 | -44.5% |
Note 1: EBITDA represents profit for the year before finance costs, interest income, share of net profit of associates, share of net profit of joint ventures, other income-net, income tax expenses, depreciation and amortisation. As the telecommunications business is a capital intensive industry, capital expenditure and finance costs may have a significant impact on the net profit of the companies with similar operating results. Therefore, the Company believes that EBITDA may be helpful in analysing the operating results of a telecommunications service operator like the Company. However, it is a non-GAAP financial measure which does not have a standardised meaning and therefore may not be comparable to similar measures presented by other companies.
Note 2: Net profit represented profit attributable to equity shareholders of the Company.
Note 3: Excluded the impact of adoption of IFRS/HKFRS 16 on free cash flow in 2019 (i.e. free cash flow = operating cash flow – CAPEX – capital element of lease rentals paid.)
Note 4: Calculated the cumulative free cash flow generated since 2017.
