Global telecom network solutions provider Huawei has announced an increase in revenue and profit for the full-year 2009, registering a 19% growth in revenues over the previous year and expecting a similar increase of 20% for 2010.
The company’s annual report shows sales revenues of USD21.8 billion and net profits of USD2.7 billion for last year, according to the results audited by international accounting firm KPMG.
“We see our business momentum continuing in 2010 and expect year-on-year revenue growth of 20% driven by increased deployments of mobile and fixed broadband networks, further take-up of customized smart devices, and higher demand for professional managed services”, said Ken Hu, Chief Marketing Officer, Huawei.
The company said it reported a 19% and a 12.2% increase in revenue and profit margins respectively last year, despite the economic downturn which meant a decline in overall capital expenditures by telecom network operators.
Also, Huawei mentioned that its total expense ratio (total operating expenses and other income as a percentage of revenue) decline 1.4% year-over-year, as a result of improving process efficiency and managing costs during the recession. The company will continue its practices and strategies through implementation of organization transformation programs such as “Integrated Financial Services” with IBM and “Lead to Cash” with Accenture.
Huawei is a leader in providing next generation telecommunications networks, and now serves 45 of the world’s top 50 operators. Huawei’s ‘Single-RAN’ wireless solution, which integrates multiple network systems into one single platform, has been embraced by 30 operators globally.
Huawei’s audited full-year results are outlined in the company’s 2009 annual report, which can be found here.
