和记电讯香港(00215) - 2023 - 中期业绩

Financial Performance - Total revenue for the first half of 2023 was HKD 2,328 million, a 1% increase compared to HKD 2,298 million in the same period last year[2] - EBITDA increased by 5% to HKD 727 million, up HKD 32 million from HKD 695 million in the previous year[2] - Shareholders' loss improved by 80% to HKD 19 million, with loss per share reduced to HKD 0.39 from HKD 1.99[3] - The company is encouraged by the turnaround to profitability in June 2023 and is focused on achieving a positive full-year financial performance[7] - The group reported a loss of HKD 19 million for the six months ended June 30, 2023, compared to a loss of HKD 96 million in the same period of 2022, indicating an improvement[18] - The total comprehensive loss for the period was HKD 20 million, compared to a loss of HKD 19 million in the previous year[22] - The company reported a pre-tax profit of HKD 8 million for the first half of 2023, a significant recovery from a loss of HKD 73 million in the same period of 2022[57] Revenue Breakdown - Service revenue grew by 15% year-on-year to HKD 1,793 million, driven by a significant increase in roaming service revenue, which rose by HKD 95 million or 68% to HKD 235 million[5] - Revenue from mobile communications and related services reached HKD 1,793 million, up from HKD 1,558 million, indicating a growth of 15.1% year-over-year[33] - Revenue from telecommunications hardware and other products decreased to HKD 535 million from HKD 740 million, reflecting a decline of 27.7%[33] - Customer service revenue net increased by 15% to HKD 1,793 million, driven by a significant increase in roaming service revenue, which rose by 68% to HKD 235 million[9] Customer Metrics - The customer base increased by 13% to approximately 3.4 million, with a notable rise in 5G penetration rate by 18 percentage points to 38%[6] - The number of prepaid customers increased by 26% to 1,940 thousand, contributing to a total customer base of approximately 3,407 thousand, a 13% increase year-on-year[10] - Monthly postpaid ARPU increased by 12% to HKD 180, attributed to growth in enterprise solutions and roaming services[6] - The monthly postpaid customer churn rate slightly increased to 0.9%, while postpaid ARPU rose by 10% to HKD 197[10] Expenses and Costs - The total gross profit increased by 10% to HKD 1,528 million, with operating expenses rising by 14% to HKD 749 million[9] - Service costs increased to HKD 829 million for the six months ended June 30, 2023, compared to HKD 685 million in the same period of 2022, reflecting a rise of 21%[35] - The group incurred operating expenses of HKD 905 million for the six months ended June 30, 2023, compared to HKD 724 million in the same period of 2022[18] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.0228 per share, consistent with the previous year[4] - The company paid dividends of HKD 251 million for the year 2022, consistent with the previous year's payment[25] - The interim dividend remained stable at HKD 110 million for both the six months ended June 30, 2023, and 2022, with an interim dividend per share of HKD 0.0228[40] Capital Expenditures and Investments - Capital expenditures (excluding telecommunications licenses) were HKD 163 million, a decrease of 4% compared to HKD 157 million in the previous year[8] - The company plans to continue investing in telecommunications licenses and infrastructure to support future growth[27] - Capital commitments as of June 30, 2023, increased to HKD 316 million from HKD 233 million at the end of 2022[54] Financial Position and Assets - The total non-current assets as of June 30, 2023, amounted to HKD 9,893 million, a decrease from HKD 10,179 million as of December 31, 2022[20] - The group's total equity as of June 30, 2023, was HKD 9,998 million, down from HKD 10,269 million at the end of 2022[20] - The group’s cash and cash equivalents totaled HKD 814 million as of June 30, 2023, compared to HKD 3,087 million at the end of 2022[20] - The group’s total current assets increased to HKD 4,857 million as of June 30, 2023, from HKD 4,777 million at the end of 2022[20] Financing and Interest Income - Interest and other financing income net for the first half of 2023 was HKD 46 million, a significant improvement from a net cost of HKD 27 million in the same period of 2022, due to a rise in deposit interest rates[11] - Interest and other financing income for the six months ended June 30, 2023, was HKD 91 million, significantly up from HKD 15 million in the same period of 2022, marking a growth of 506.7%[36] - The net interest and other financing income for the six months ended June 30, 2023, was HKD 53 million, compared to a net cost of HKD 23 million in the same period of 2022[36] Corporate Governance and Compliance - The company adhered to all applicable provisions of the corporate governance code as set out in Appendix 14 of the Listing Rules during the six months ended June 30, 2023[72] - The board has adopted the Hong Kong Securities Code to regulate securities transactions by directors, ensuring compliance during the six-month period ending June 30, 2023[73] Strategic Initiatives - The launch of a new premium brand "SUPREME" aims to provide leading 5G network services and personalized offerings to high-end consumers[7] - The group focuses on sustainable profitability, cash flow, and dividend growth while managing revenue growth and investment returns[66] - The group emphasizes sustainable development, aligning its business strategy with sustainable development goals to create long-term value for stakeholders[69]