Sales down 3% for CK Hutch telecoms business in 2020

18 Mar 2021

Hong Kong-based group CK Hutchison has reported its financial results for full-year 2020, with its telecoms division, CK Hutchison Group Telecom, posting a 3% drop in annual revenue to HKD90.66 billion (USD11.68 billion). There were jumps in both EBITDA and EBIT, however, due to gains from the sale of mobile tower assets in Europe; EBITDA rose 37% to HKD48.54 billion while EBIT was up 54% at HKD32.58 billion.

The European business, 3 Group, had 38.5 million active subscribers at the end of 2020, down 5% year-on-year, while Hutchison Telecommunications Hong Kong Holdings (HTHKH) had 3.3 million active mobile customers in Hong Kong and Macau at the same date. Hutchison Asia Telecommunications (HAT), which has operations in Indonesia, Vietnam and Sri Lanka, claimed 57.0 million mobile customers at end-2020.

Hong Kong, CK Hutchison