CK Hutchison telco businesses register solid first half

2 Aug 2018

Hong Kong-based multi-industry group CK Hutchison has reported overall revenues of HKD224.5 billion (USD28.6 billion) for the six months to 30 June 2018, an increase of 16% year-on-year, or a rise of 9% in local currency terms. Group EBITDA was up 19% (11% in local currency) to HKD55.4 billion, while net profit attributable to shareholders climbed 13% (5%) to HKD18.0 billion. CK Hutchison’s businesses cover the ports and transport sector, retail services, energy, infrastructure and telecoms.

The group’s telecoms operations include ‘3’-branded businesses in Europe (3 Group Europe), cellcos in Hong Kong and Macau (Hutchison Telecommunications Hong Kong Holdings, HTHKH), mobile units in Indonesia, Sri Lanka and Vietnam (Hutchison Asia Telecommunications, HAT), and an unconsolidated stake in Vodafone Hutchison Australia (VHA).

3 Group Europe saw revenues climb 9% y-o-y to HKD36.1 billion, while EBITDA was up 14% at HKD12.8 billion. Total customer numbers in the UK, Ireland, Italy, Sweden, Denmark and Austria dropped from 52.3 million at mid-2017 to 51.9 million at H1 2018. HTHKH, meanwhile, saw sales of HKD4.0 billion, down 21% y-o-y due to the disposal of its fixed line business. Mobile customer numbers climbed 4% to 3.4 million. Finally, HAT reported a 7% increase in turnover for the first half, to HKD4.1 billion, though active customer numbers fell 15% to 64.2 million.

Hong Kong, CK Hutchison