TAIPEI, Aug. 6, 2024 /PRNewswire/ — Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) (“Chunghwa” or “the Company”) lately reported its un-audited running effects for the second one quarter of 2024. All figures had been ready in line with Taiwan-Global Monetary Reporting Requirements (“T-IFRSs”) on a consolidated foundation.
(Comparisons all the way through the clicking shed, except in a different way said, are made in regards to the prior 12 months duration.)
2d Quarter 2024 Monetary Highlights
- Overall income larger by means of 1.2% to NT$ 54.12 billion.
- Client Industry Crew income larger by means of 2.6% to NT$ 33.60 billion.
- Endeavor Industry Crew income lowered by means of 3.7% to NT$ 16.89 billion.
- Global Industry Crew income larger by means of 21.8% to NT$ 2.64 billion.
- Overall running prices and bills larger by means of 2.4% to NT$ 42.19 billion.
- Running source of revenue lowered by means of 2.7% to NT$ 11.93 billion.
- EBITDA lowered by means of 1.7% to NT$ 21.81 billion.
- Internet source of revenue as a consequence of stockholders of the dad or mum lowered by means of 1.0% to NT$ 9.82 billion.
- Ordinary income in keeping with percentage (EPS) used to be NT$1.27.
- Running source of revenue, EBITDA, web source of revenue as a consequence of stockholders of the dad or mum, and EPS all exceeded our proposed steering.
“The year-over-year improvements in the second quarter underscored the strength of our strategic execution and operational excellence,” said Mr. Shui-Yi Kuo, Chairman and CEO of Chunghwa Telecom. “Chunghwa Telecom is delivering industry-leading, best-in-class service to our customers. As a result, we have proudly set a new record for total revenue for the same period since 2018, increasing our mobile revenue market share and subscriber share in the new market landscape. Our postpaid mobile ARPU has continued to outperform peers, demonstrating the highest YoY growth in the Taiwanese telecom industry for six consecutive quarters. Additionally, our fixed broadband service has seen a remarkable uptick as the number of subscribers opting for services of 300Mbps or higher continued to grow, resulting in revenue increase.”
“Regarding our three business groups, the Consumer Business Group sustained its growth trajectory, primarily due to mobile revenue growth driven by ongoing 5G migration and an increase in postpaid subscribers, as well as fixed broadband revenue growth. As a testament of our successful investment in media content, we saw our video platform subscriptions exceeded three million in the first week of broadcasting the Olympic Games, further expanding our lead in the industry as the largest video platform in Taiwan. Our Enterprise Business Group’s revenue decreased due to the higher base from the large ICT project revenue recognized last year, offset by increased IDC and cybersecurity revenues this quarter. A noteworthy highlight is the 10 consecutive quarters of year-over-year growth in our cybersecurity business driven by growing demand. Furthermore, we are impressed with the performance of our International Business Group, where revenue increased by 21.8% year-over-year, mainly driven by overseas ICT business.”
“Targeting the vast AI opportunities, we constructed AI Data Centers, GPU Cloud, and CHT AI Factory. These efforts support enterprise and government clients in facilitating AI transformation. Additionally, to strategically enhance our overall group’s market value, we focused on carving out subsidiaries for spin-offs and continuously evaluating potential M&A opportunities. Our subsidiary, CHT Security and International Integrated Systems Inc., will complete their listing on Taiwan’s Emerging Stock Market Board by the second half of 2024. Looking ahead, we remain confident that the consistent execution of our strategies will enable us to achieve our long-term goals for superior value creation for all our stakeholders,” Mr. Kuo concluded.
Income
Chunghwa Telecom’s overall revenues for the second one quarter of 2024 larger by means of 1.2% to NT$ 54.12 billion.
Client Industry Crew’s income for the second one quarter of 2024 larger by means of 2.6% YoY to NT$ 33.60 billion. Cellular carrier income larger 3.8% YoY, principally because of ongoing 5G migration and building up in postpaid subscriber. Fastened broadband income endured to develop 12 months over 12 months owing to the a hit upsell of velocity improve. Gross sales income larger 2.4% YoY principally because of the sturdy gross sales of iPhone sequence. CBG’s source of revenue earlier than tax lowered 1.6% YoY, principally because of the rise of team of workers bills because of the corporate’s wage raises rolled out this 12 months
Endeavor Industry Crew’s income for the second one quarter of 2024 lowered 3.7% YoY to NT$ 16.89 billion, because of latter 12 months’s top bottom from massive ICT initiatives and the deferral of income that used to be anticipated to be known in the second one quarter. ICT trade income remained on course when except for the ones elements. Cellular carrier income quite lowered because of the upper bottom of pay as you go card mission in the similar duration of latter 12 months, generation 5G migration, global roaming income and textual content message income endured to develop. Fastened-line income quite lowered year-over-year because of that the decrease in constant resonance income offset the expansion of broadband get right of entry to income and knowledge communique income. This used to be the principle reason behind the 9.6% year-over-year trim in EBG’s source of revenue earlier than tax.
Global Industry Crew’s income for the second one quarter of 2024 larger by means of 21.8% to NT$ 2.64 billion, generation its source of revenue earlier than tax larger 8.2% YoY. The certain enlargement used to be principally because of in another country ICT trade enlargement pushed by means of shoppers’ world enlargement.
Running Prices and Bills
Overall running prices and bills for the second one quarter of 2024 larger by means of 2.4% to NT$ 42.19 billion, principally because of upper manpower price and electrical energy bills.
Running Source of revenue and Internet Source of revenue
Running source of revenue for the second one quarter of 2024 lowered by means of 2.7% to NT$ 11.93 billion. The running margin used to be 22.0%, as in comparison to 22.9% in the similar duration of 2023. Internet source of revenue as a consequence of stockholders of the dad or mum lowered by means of 1.0% to NT$ 9.82 billion. Ordinary income in keeping with percentage used to be NT$1.27.
Money Stream and EBITDA
Money stream from running actions, as of June 30th, 2024, larger by means of 3.0% 12 months over 12 months to NT$ 29.32 billion, principally because of a stand in unearned income from ICT initiatives.
Money and coins equivalents, as of June 30th, 2024, lowered by means of 24.2% to NT$ 37.71 billion as in comparison to that as of June 30th, 2023.
EBITDA for the second one quarter of 2024 used to be NT$ 21.81 billion, lowering by means of 1.7% 12 months over 12 months. EBITDA margin used to be 40.31%, as in comparison to 41.51% in the similar duration of 2023.
Industry Highlights
Cellular
As of June 30th, 2024, Chunghwa Telecom had 13.42 million cellular subscribers, representing a 4.5% year-over-year building up. In the second one quarter, overall cellular carrier income larger by means of 3.5% to NT$ 16.73 billion, generation cellular post-paid ARPU except for IoT SIMs grew 2.0% 12 months over 12 months to NT$ 556.
Fastened Broadband/HiNet
As of June 30th, 2024, the selection of broadband subscribers quite larger by means of 0.6% to 4.41 million. The selection of HiNet broadband subscribers larger by means of 1.3% to three.72 million. In the second one quarter, overall constant broadband income grew 4.4% 12 months over 12 months to NT$ 11.39 billion, generation ARPU larger 2.0% to NT$ 790.
Fastened wrinkle
As of June 30th, 2024, the selection of fixed-line subscribers used to be 9.02 million.
Monetary Statements
Monetary statements and backup operational knowledge will also be discovered at the Corporate’s web page at http://www.cht.com.tw/en/home/cht/investors/financials/quarterly-earnings
NOTE CONCERNING FORWARD-LOOKING STATEMENTS
This press shed incorporates forward-looking statements. Those statements represent “forward-looking” statements inside the that means of Division 27A of the Securities Function of 1933, as amended, and Division 21E of the Securities Alternate Function of 1934, as amended, and as outlined within the U.S. Personal Securities Litigation Reform Function of 1995. Those forward-looking statements will also be known by means of terminology akin to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and homogeneous statements. Statements that don’t seem to be ancient info, together with statements about Chunghwa’s ideals and expectancies, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties that would motive fresh effects to range materially from the forward-looking statements. Quite a few notable elements may just motive fresh effects to range materially from the ones contained in any forward-looking observation. Traders are cautioned that fresh occasions and effects may just range materially from the ones statements because of quite a few elements together with, however no longer restricted to the dangers defined in Chunghwa’s filings with the U.S. Securities and Alternate Fee on Methods F-1, F-3, 6-Ok and 20-F, in every case as amended. The forward-looking statements on this press shed replicate the tide trust of Chunghwa as of the presen of this press shed and Chunghwa undertakes disagree legal responsibility to replace those forward-looking statements for occasions or instances that happen next to such presen, excluding as required beneath acceptable regulation.
This press shed isn’t an deal of securities on the market in the US. Securities might not be presented or offered in the US absent registration or an exemption from registration. Any family providing of securities to be made in the US can be made by the use of a prospectus that can be acquired from the issuer or promoting safety holder and that can comprise colorful details about the corporate and control, in addition to monetary statements.
NON-GAAP FINANCIAL MEASURES
To complement the Corporate’s consolidated monetary statements offered in line with Global Monetary Reporting Requirements pursuant to the necessities of the Monetary Supervisory Fee, or T-IFRSs, Chunghwa Telecom additionally supplies EBITDA, which is a “non-GAAP financial measure”. EBITDA is outlined as consolidated web source of revenue (loss) except for (i) depreciation and amortization, (ii) overall web complete financing price (which is made out of web hobby expense, alternate acquire or loss, financial place acquire or loss and alternative financing prices and spinoff transactions), (iii) alternative source of revenue, web, (iv) source of revenue tax, (v) (source of revenue) loss from discontinued operations.
In managing the Corporate’s trade, Chunghwa Telecom is based on EBITDA as a method of assessing its running efficiency as it excludes the impact of (i) depreciation and amortization, which represents a non-cash rate to income, (ii) sure financing prices, which might be considerably suffering from exterior elements, together with rates of interest, foreign currency echange alternate charges and inflation charges, that have slight or disagree relating our running efficiency, (iii) source of revenue tax (iv) alternative bills or source of revenue no longer alike to the operation of the trade.
CAUTIONS ON USE OF NON-GAAP FINANCIAL MEASURES
Along with the consolidated monetary effects ready beneath T-IFRSs, Chunghwa Telecom additionally grant non-GAAP monetary measures, together with “EBITDA”. The Corporate believes that the non-GAAP monetary measures grant buyers with some other mode for assessing its running ends up in a way this is targeted at the efficiency of its ongoing operations.
Chunghwa Telecom’s control believes buyers will get pleasure from better transparency in referring to those non-GAAP monetary measures when assessing the Corporate’s running effects, in addition to when forecasting and inspecting hour sessions. Then again, the Corporate appreciates that:
- those non-GAAP monetary measures are restricted of their significance and must be regarded as handiest as a complement to the Corporate’s T-IFRSs monetary measures;
- those non-GAAP monetary measures must no longer be regarded as in isolation from, or as an alternative choice to, the Corporate’s T-IFRSs monetary measures;
- those non-GAAP monetary measures must no longer be regarded as to be splendid to the Corporate’s T-IFRSs monetary measures; and
- those non-GAAP monetary measures weren’t ready in line with T-IFRSs and buyers must no longer think that the non-GAAP monetary measures offered on this income shed had been ready beneath a complete algorithm or idea.
Additional, those non-GAAP monetary measures is also distinctive to Chunghwa Telecom, as they is also other from non-GAAP monetary measures worn by means of alternative firms. As such, this presentation of non-GAAP monetary measures would possibly not support the comparison of the Corporate’s effects to the result of alternative firms. Readers are cautioned to not view non-GAAP effects as an alternative choice to effects beneath T-IFRSs, or as being similar to effects reported or forecasted by means of alternative firms.
About Chunghwa Telecom
Chunghwa Telecom (TAIEX 2412, NYSE: CHT) (“Chunghwa” or “the Company”) is Taiwan’s biggest built-in telecommunications services and products corporate that gives fixed-line, cellular, broadband, and web services and products. The Corporate additionally supplies knowledge and communique generation services and products to company consumers with its large knowledge, knowledge safety, cloud computing and IDC features, and is increasing its trade into leading edge generation services and products akin to IoT, AI, and so forth. Chunghwa has been actively and ceaselessly carried out environmental, social and governance (ESG) projects with the objective to succeed in sustainability and has gained diverse global and home awards and recognitions for its ESG constancy and very best practices. For more info, please seek advice from our web page at www.cht.com.tw
Touch: Angela Tsai
Telephone: +886 2 2344 5488
E mail: [email protected]
SOURCE Chunghwa Telecom
