和记电讯香港(00215) - 2021 - 中期财报

Financial Performance - Total revenue for the first half of 2021 was HKD 2,565 million, a 29% increase compared to HKD 1,982 million in the same period of 2020[5] - EBITDA for the first half of 2021 decreased by 4% to HKD 747 million, down from HKD 778 million in the previous year[5] - The total EBIT dropped by 37% to HKD 92 million, compared to HKD 147 million in the same period last year[5] - Shareholders' profit attributable to the company was HKD 31 million, a 79% decrease from HKD 146 million year-on-year[5] - Local service revenue increased by 4% to HKD 1,503 million, up from HKD 1,443 million year-on-year[5] - Hardware revenue surged by 194% to HKD 935 million, driven by a significant increase in net mobile phone sales, which rose by 355% to HKD 769 million[10] - The net profit attributable to shareholders for the same period was HKD 31 million, a decrease of 78.8% from HKD 146 million in 2020[53] - Basic and diluted earnings per share were HKD 0.64, down from HKD 3.03 in the previous year[53] Customer Metrics - The total number of customers in Hong Kong and Macau decreased by 2% to approximately 3.2 million as of June 30, 2021[7] - Monthly postpaid customer churn rate remained stable at 1.1%, consistent with the first half of 2020[7] - The total number of customers as of June 30, 2021, was approximately 3.23 million, a decrease of 2% from 3.31 million in the same period of 2020[12] - The net ARPU for postpaid customers increased by 1% to HKD 171, while the local net ARPU rose by 7% to HKD 160, driven by increased contributions from the enterprise segment and more customers upgrading to 5G services[12] Dividends - The board declared an interim dividend of HKD 2.28 per share, unchanged from the previous year, and a special interim dividend of HKD 19.80 per share[8] - The total dividend for the first half of 2021 was HKD 0.2208 per share, amounting to HKD 1.064 billion[9] - The interim dividend per share was HKD 0.0228, totaling HKD 110 million, and a special interim dividend of HKD 0.198, totaling HKD 954 million, resulting in a total dividend of HKD 1,064 million for the six months ended June 30, 2021[69] Financial Position - The company maintained a strong financial position with total cash reserves of HKD 5.106 billion as of June 30, 2021[9] - As of June 30, 2021, the group's cash balance was HKD 5.106 billion, down from HKD 5.251 billion at the end of 2020[13][20] - The company’s total equity decreased to HKD 11,827 million from HKD 12,047 million at the end of 2020[54] - Total liabilities were HKD 7,269 million, with current liabilities at HKD 6,108 million[54] Operational Costs - Operating expenses rose by 2% to HKD 936 million, primarily due to network expansion and the adoption of 5G technology[11] - Employee costs for the first half of 2021 totaled HKD 160 million, slightly down from HKD 165 million in the first half of 2020[27] - The group incurred a total depreciation and amortization expense of HKD 655 million for the six months ended June 30, 2021, compared to HKD 631 million in 2020[87] Investments and Capital Expenditures - Capital expenditures related to property, plant, and equipment increased by 209% to HKD 324 million, accounting for 20% of service revenue, mainly due to investments in 5G infrastructure[14] - The cost of property, plant, and equipment purchased during the period was HKD 324 million, significantly higher than HKD 105 million for the same period in 2020[70] Corporate Governance and Sustainability - The group established a sustainability committee at the board level in 2020 to enhance corporate governance and reporting frameworks related to sustainability initiatives[28] - The sustainability framework is built on four pillars: environment, social, governance, and sustainable business models, evolving from the previous four pillars established in the 2020 annual report[28] - The company emphasizes a high level of corporate governance to enhance shareholder value and protect stakeholder interests[46] - The company has complied with all provisions of the corporate governance code during the six months ending June 30, 2021[47] Market Outlook - The company is optimistic about returning to a stable operational performance as the economy recovers post-pandemic[9] - The company is focusing on expanding its market presence and enhancing its product offerings in the telecommunications sector[50] COVID-19 Impact - The company has implemented measures to mitigate the impact of the COVID-19 pandemic on its business, particularly affecting roaming revenues since Q2 2020[58] - The company continues to monitor the developments related to COVID-19 and assess its impact on financial performance and operational results[58] Miscellaneous - The group provided performance, financial, and other guarantees totaling HKD 512 million as of June 30, 2021, an increase from HKD 330 million at the end of 2020[23] - The group confirmed a spectrum usage fee of approximately HKD 1.54 billion for the 1800 MHz band, payable in 15 annual installments starting from September 2021[83] - The independent auditor's review report for the interim financial statements will be included in the interim report for the six months ending June 30, 2021[29]