H1 sales down 8% at CKH Group Telecom, but up 5% for HAT

7 Aug 2020

The Hong Kong-based industrial group CK Hutchison has reported its interim results for the six months to end-June 2020. Its CKH Group Telecom unit, which includes its 3 Group operations in Europe plus HTHKH in Hong Kong and Macau, saw revenues of HKD42.70 billion (USD5.51 billion) for the first half, down 8% year-on-year, while EBITDA dropped 15% to HKD14.92 billion and EBIT fell 28% to HKD7.78 billion. 3 Group Europe registered a 7% drop in first-half sales to HKD40.52 billion, with EBITDA down 11% to HKD14.45 billion. Revenue at HTHKH fell 21% to HKD1.98 billion due to lower roaming revenues as a result of the COVID-19 lockdown.

There were 38.72 million active mobile customers in the UK, Italy, Sweden, Denmark, Austria and Ireland at the end of June 2020, a 12% drop in twelve months. HTHKH had 3.31 million active subscribers in Hong Kong and Macau at the same date, down 1% y-o-y.

Hutchison Asia Telecommunications (HAT), which has operations in Indonesia, Vietnam and Sri Lanka, saw revenues jump 5% in the year to 30 June 2020 to HKD4.52 billion. Active customer numbers were up 7% at 48.85 million.

Hong Kong, CK Hutchison