CK Hutchison reports positive 2019 results for its telecoms units despite customer losses

20 Mar 2020

Hong Kong-based CK Hutchison Group has reported its financial results for full-year 2019, including figures for CKH Group Telecom (comprising 3 Group in Europe plus Hutchison Telecom Hong Kong Holdings [HTHKH] in Hong Kong and Macau) and Hutchison Asia Telecom (HAT), which covers operations in Indonesia, Vietnam and Sri Lanka.

CKH Group Telecom saw revenues of HKD93.52 billion (USD12 billion) for the year, up 8% y-o-y in reported currency and 12% higher in respective local currencies. EBITDA climbed 16% on a reported basis and 21% in local currency terms to HKD35.34 billion, while EBIT rose 15% (19% in local currency) to HKD21.13 billion. HAT reported FY 2019 turnover of HKD8.98 billion, a 9% increase in reported currency terms, while EBITDA jumped 111% to HKD2.17 billion and EBIT was up 229% at HKD1.06 billion.

In operational terms, 3 Group Europe had 40.6 million active customers in the UK, Ireland, Italy, Sweden, Denmark and Austria at the end of 2019, down from 42.9 million a year earlier. HTHKH claimed 3.7 million customers in Hong Kong and Macau, up from 3.3 million at end-2018. HAT had an active customer base of 45.5 million at end-2019, down 9% year-on-year.

Hong Kong, CK Hutchison