New Street Research - KT Corp (ADR) (KTC) KT Corp (Buy, TP: KRW 70,000, +86%) Q4 23 Quick Take: Beat on EBITDA despite slower topline; Shareholder remuneration in-line with previous expectations; market hoping for more?

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New Street Research

Chris Hoare

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KT Corp (Buy, TP: KRW 70,000, +86%) Q4 23 Quick Take: Beat on EBITDA despite slower topline; Shareholder remuneration in-line with previous expectations; market hoping for more?

KT delivered a decent EBITDA beat despite a slower topline in Q4. Offsetting the weaker B2B division this quarter were Wireless and its Content subsidiaries.

08/02/2024 1 EN

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KT Corp (ADR)

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US48268K1016 Berlin Stock Exchange South Korea

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Chris Hoare

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KT Corp (Buy, TP: KRW 70,000, +86%) Q4 23 Quick Take: Beat on EBITDA despite slower topline; Shareholder remuneration in-line with previous expectations; market hoping for more?

South Korean Telcos What could the telcos do to address the “Value-up” programme?

South Korean Telcos Takeaways from Meetings with the Korean Telcos in Seoul

South Korean Telcos Q4 23 review: EBITDA improved despite softer service revenue; Enterprise continues to drive growth

CityFibre & Three UK Can they get their deals done by year-end?

SATS: model update

Airtel Africa (Buy, TP: GBP1.5, +42%) Q4 24: Decent, Solid top line but slower EBITDA; positive message on HoldCo cash

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