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Chunghwa claims ‘robust’ performance as it publishes 3Q22 results

2 Nov 2022

Taiwan’s Chunghwa Telecom (CHT) has published its financial results for the quarter ended 30 September 2022, with the company’s chairman and CEO, Chi-Mau Sheih, claiming a ‘robust financial and operational performance … driven by strong fundamentals in the face of an uncertain macroeconomy’. In the period under review, CHT recorded a total turnover of TWD53.51 billion (USD1.66 billion), representing year-on-year growth of 5.2%, with revenues from its ‘Consumer Business Group’ division rising by 3.8%, to TWD32.83 billion. Growth in the consumer sector was driven by an increase in post-paid subscriptions and 5G migrations, although it was noted that fixed voice revenue continued to decline. Turnover from the ‘Enterprise Business Group’ unit in 3Q22 increased by 5.1% y-o-y to TWD17.39 billion, meanwhile, mainly due to increase ‘ICT business revenue’.

With regards to other key financial indicators, CHT reported that EBTIDA rose by 5.0% y-o-y to reach TWD22.13 billion in 3Q22, while operating costs and expenses were up 4.7% at TWD41.30 billion, attributable to higher manpower expenses and depreciation expenses related to the company’s 5G network deployment. Net income for the quarter under review stood at TWD9.33 billion, a marginal 0.4% decline from the corresponding period in 2021.

As of 30 September 2022, the telco it had a total of 12.42 million mobile subscriptions on its books, up 5.8% y-o-y. CHT also reported that its fixed broadband subscription based increased marginally, to 4.38 million as of 30 September 2022 (up 0.5% y-o-y), although fixed voice subscriptions continued to decline, falling back to 9.47 million (Sep-21: 9.73 million).

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Taiwan, Chunghwa Telecom

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