Singapore Telecommunications Limited , or Singtel, released its full fiscal year 2020 earnings this morning.The COVID-19 pandemic had a negative impact on mobile service usage due to travel and movement restrictions, leading to lower prepaid and roaming revenue.
The full-year results were dragged down by the fiscal fourth quarter, which saw the adverse effects of COVID-19 creeping in. Mobile revenue negatively impactedMobile revenue suffered due to movement restrictions and lockdowns. Over at Australia, total mobile revenue declined by 4.7% year on year to A$5.7 billion, led by lower mobile service revenue and a decline of 7.3% year on year in equipment sales.However, some countries have begun easing lockdowns, which may allow revenue in this segment to slowly recover.
However, a key operating metric, the average revenue per user , declined by 11.1% year on year from S$33 per month to S$30.Over in Australia, the number of mobile subscribers also increased, albeit by a smaller 1.6% year on year, to 10.4 million subscribers. If left unchecked, the steady decline in ARPU will continue to erode Singtel’s mobile revenue over the medium-term.
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