통신 기업의 운영 비용(OPEX) 분석(2016-2021년) : 네트워크 관련 OPEX는 네트워크 운영과 감가상각비로 인해 2021년에 통신 기업 OPEX 총액의 절반을 차지
Telco Opex Analyzer, 2016-21: Network-related Opex Accounted for a Half of Telcos´ Total Opex in 2021, Driven by Network Operations and Depreciation
세계의 통신 업계 판매량은 2021년에는 전년대비 5.3% 증가하며 과거 10년간 가장 빠른 성장률을 기록했습니다. 그러나, 그 요인은 코로나 팬데믹 기간의 저성장기에서의 반동, 비서비스 수입, 환율 변동에 의한 것이었습니다. 환율 변동과 COVID-19를 조정한 후의 총매출 성장률은 최근 몇 년간 1-3% 범위였습니다. 이에 반해 웹 스케일 분야 기업은 두 자리수대의 성장률을 기록했습니다. 그 결과, 통신 오퍼레이터는 수익성 향상을 위해 비용 재검토에 중점을 두게 되었습니다. 벤더들은 역사적으로 운영 비용(OPEX)보다 자본 지출(CAPEX)로 인해 많은 예산을 할애해 왔지만, 현재는 OPEX의 중요성이 높아지고 있어서 OPEX가 몇 배 규모가 되었습니다. 통신 오퍼레이터가 성공을 거두기 위해서는 OPEX를 이해하고, 효과적으로 관리하는 것이 중요합니다.
통신 업계 주요 통신 오퍼레이터의 운영 비용(OPEX) 동향에 대해 분석하고, 세계 주요 통신 오퍼레이터 30개사에 대해 전체적인 지출 레벨, 네트워크의 OPEX 기여도, 네트워크 관련 설비 투자, 수익성 등을 조사했습니다.
MTN Consulting's Telco Opex Analyzer analyzes the opex trends of a subset of key telcos in the telecommunications sector. The report's dashboard allows a user to dig into overall spending levels, network's contribution to opex, network-related capex, and profitability for a group of 30 individual operators. The report is designed to help vendors understand and plan for the needs of their customers and help network operators deploy their technology budgets wisely. The report's format is Excel.
The telecom sector posted 5.3% YoY growth in revenues in 2021 - the fastest growth rate experienced in a decade. However, much of this growth was due to a pandemic-induced low base period, non-service revenues, and exchange rate fluctuations. Historically, telcos have faced flat revenues and after adjusting for exchange rate fluctuations and COVID-19, top-line growth has been in the range of 1-3% per year, for many years. In contrast, their counterparts in the webscale sector have been witnessing double digit growth rates. As a result, telcos have been focused on their cost base in search of profitability growth. Costs include both capital expenditures (capex) and operating expenses (opex). Many MTN Consulting reports analyze capex. That's in line with the traditional focus of most vendors, who historically sell more into capex budgets than opex. Opex is rising in importance to vendors, though, and as a cost category it is several times the size of capex. Further, understanding and effectively managing opex is crucial for telcos seeking success. Telco earnings reports make this obvious, as they highlight things like opex transformation programs, careful opex management, cost optimization initiatives, network efficiencies, and process automation.
This report aims to help understand opex trends in the telco market. This is an expansion of our first opex study, which was published in late 2021. This new edition has expanded the sample telco group coverage from 21 to 30 companies, and added a year of data coverage (2021). This new edition is now based on sample of telcos which more closely mirrors the globe. The regional splits for the sample telco group of 30 companies is spread across major regions with Asia representing 41.6% (of 2021 revenue total by HQ region), Americas 26%, Europe 22.5%, and MEA at 9.9%.
Managing opex is extremely important for telco CxOs. The problem is that opex is a bit of a mystery - it's hard to understand across companies, countries, and over time. Reporting categories, definitions, and accounting standards vary widely. This report solves the problem. We have created a taxonomy of opex categories, examined a broad cross-section of telcos, and calculated a detailed opex profile for both the individual companies and the overall telecommunications industry.
Many of the above results will not be surprising to those who track telcos closely. However, putting a credible number on a "gut feel" is a leap forward from the status quo. Vendors need to be able to position themselves effectively to customers. Telcos and analysts tracking them need to have an apples to apples comparison of how their costs compare to peers.
As far as public reporting goes, this study alone may not impact telcos' opacity and inconsistency around opex. These practices have historic roots, in some cases, and old habits can be hard to break. But observers should recognize that the practices are often self-serving, and just because a company says an initiative saved money, doesn't mean it really did. Company execs in every industry tend to dress up their financial results to look as attractive as possible, and telecom is no different.
This study is based on a deep dive into the financials of 30 significant telcos*: their size, region, business model, cost structure and other factors vary, allowing us to generalize based on their results. However, we will be expanding the size of the sample in the first-half of 2023, and also updating the timeframe to include 2022 results.
* Companies included: Advanced Info Service (AIS), Airtel, Batelco, BT, Charter Communications, China Mobile, Chunghwa Telecom, Comcast, Du, Etisalat, Globe Telecom, KDDI, KPN, Megafon, MTN Group, Oi, Ooredoo, Orange, Proximus, Saudi Telecom (STC), Singtel, SK Telecom, Starhub, Swisscom, Telecom Argentina, Telecom Italia, Telkom Indonesia, Telus, Turk Telekom, and Veon.