CK Hutchison sees sales rise at European telecoms units

22 Mar 2019

Hong Kong-based industrial group CK Hutchison has reported revenues of HKD453.2 billion (USD57.8 billion) for the twelve months ended 31 December 2018, a rise of 9% year-on-year. EBITDA climbed by the same margin to HKD113.6 billion, while profit attributable to shareholders was up 11% at HKD39.0 billion.

In the telecoms sphere, 3 Group Europe, which has operations in the UK, Italy, Sweden, Denmark, Austria and Ireland, saw revenues climb 11% to HKD78.4 billion, with EBITDA rising 18% to HKD28.8 billion. The European operations had 42.9 million active customers at the end of 2018, a drop of 4% in twelve months.

The domestic business, Hutchison Telecommunications Hong Kong Holdings (HTHKH), which offers services under the ‘3’ brand, saw total revenues drop 18% to HKD7.9 billion, mainly due to the sale of the group’s fixed line business during 2018. Customer numbers were down 2% at 3.3 million.

Hutchison Asia Telecommunications (HAT), which covers activities in Indonesia, Vietnam and Sri Lanka, reported a 7% rise in total sales to HKD8.2 billion. A subscriber registration programme in Indonesia led to a sharp fall in user numbers in 2018, down 34% to 49.8 million.

Hong Kong, CK Hutchison