HKT reports 2% fall in annual sales

5 Feb 2021

Hong Kong fixed and mobile operator HKT has reported a 2% year-on-year drop in revenues for full year 2020 to HKD32.39 billion (USD4.18 billion). Revenues excluding handset sales rose marginally to HKD29.78 billion, boosted by demand for data and broadband services, coupled with what the firm described as an ‘encouraging’ take-up of 5G services, albeit offset by a decline in roaming revenue due to COVID-19. EBITDA dropped 2% to HKD12.53 billion, while pre-tax profit was down by the same margin at HKD6.17 billion. The firm claimed 4.61 million mobile subscribers at the end of 2020, down from 4.68 million a year earlier. Retail fixed broadband access rose by 7,000 in twelve months to 1.46 million.

Hong Kong, HKT (incl. CSL)