Huawei posts revenues of £12 billion for first half of 2013

Sales revenue up 10.8% year-on-year driven largely by the Carrier Network business; the company expects to increase revenue by 10% over the whole year

Huawei posts revenues of £12 billion for first half of 2013

Chinese technology giant Huawei announced its unaudited financial and operational results for the first half of 2013 today (24 July 2013). In the first six months of the year, Huawei generated revenues of CNY 113.8 billion (£12 billion), an increase of 10.8% over the same period in 2012.

The company, which is the world’s second largest telecommunications infrastructure provider after Ericsson, said that ‘based on this robust growth and other positive business indicators’ it expects to generate a net profit margin of 7%-8% in 2013.

Cathy Meng, chief financial officer at Huawei, said: “Our success in H1 2013 was mainly driven by the steady growth of the Carrier Network business, the expansion of the Enterprise business, and the fast growth of the Consumer business, as well as the continuous enhancement of our overall operational efficiency.

‘Revenues and profit are in line with our expectations,’ continued Meng. ‘From these positive indicators, we believe Huawei will generate strong performance and profit margins in the second half of this year and are confident that we will achieve our goal to increase revenue by 10%.”

Looking ahead, Meng said Huawei will ‘continue to focus on its pipe strategy, increase investment in core growth areas for the business, and boost efficiency through a series of operational and management reviews and improvements’.

In its results for the first half of 2012, Huawei, posted an operating profit of CNY8.79bn (£0.88bn) - an increase of 20.3% compared with 2011 H2, but a decrease of 22.0% compared with the first half of 2011. The company's operating margin was 8.6% for the half year. Huawei increased its sales revenue to CNY102.7bn (£10.3bn) in the first half of 2012, a rise of 5.1% over the first half of 2011.

See also:

Huawei net profit up 32.1% to £1.61bn on revenues of £23.1bn in 2012

Huawei operating profit falls by 22 per cent for first half of 2012

Ericsson year-on-year sales flat for second quarter of 2013

Sales fall by 17% at Nokia Siemens Networks in Q2 2013

Alcatel-Lucent posts net losses of £768m in second quarter of 2013

ZTE revenues decline by 11.6% to £4 billion in the first half of 2013

Written by Wireless magazine
Wireless magazine

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