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CKHGT reports stable revenues for 2022 in local currency terms

17 Mar 2023

CK Hutchison Group Telecom (CKHGT) has reported revenues of HKD83.29 billion (USD10.61 billion) for full-year 2022, down 10% from a year earlier on a reported basis but stable in local currency terms. EBITDA dropped 25% as reported (down 19% in local currency) to HKD32.19 billion, while pre-tax profit fell 45% (-42% in local currency) to HKD12.80 billion. The results for both 2021 and 2022 were affected by one-off gains from the disposal of tower assets in Europe and a non-cash impairment of goodwill at WINDTRE Italy.

Revenues at 3 Group Europe, which covers operations in the UK, Italy, Ireland, Sweden, Denmark and Austria, were down 10% on a reported basis at HKD77.93 billion, but flat in local currencies, with a negative performance in Italy offsetting gains elsewhere. Hutchison Telecom Hong Kong Holdings (HTHKH), which covers operations in Hong Kong and Macau, reported a 9% drop in sales to HKD4.88 billion.

CKHGT had an active mobile subscription base of 43.0 million at the end of 2022, up 3% year-on-year. In addition, WINDTRE in Italy had 2.9 million fixed broadband subscriptions at end-2022.

Hong Kong, CK Hutchison

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