|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.