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HKT Trust and HKT (6823) investor relations material
HKT Trust and HKT H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 4% year-over-year to HK$17,322 million (US$2.22 billion), with EBITDA up over 3% to HK$6,380 million (US$818 million) and profit attributable to holders of Share Stapled Units up 4% to HK$2,070 million (US$265 million).
Enterprise business revenue expanded 11%, with new project wins exceeding HK$2.2 billion and strong growth in AI-driven solutions and international connectivity.
5G post-paid subscribers grew 21% year-over-year to 1.894 million, now over 54% of the mobile post-paid base; broadband FTTH connections increased 3% to 1.055 million.
AI-driven initiatives enhanced customer experience, operational efficiency, and cost savings, with a 7% reduction in overall cost base.
Interim distribution per Share Stapled Unit declared at 33.80 HK cents.
Financial highlights
Total revenue: HK$17,322 million (US$2.22 billion), up 4% year-over-year; EBITDA: HK$6,380 million (US$818 million), up 3%; AFF: HK$2,562 million (US$328 million), up 3%.
EBITDA margin steady at 37% overall; TSS margin: 35%; Mobile margin: 46%; Mobile services margin: 58%.
Net finance costs fell 19% to HK$885 million due to deleveraging and lower interest rates; effective interest rate at 3.96%.
Capital expenditure: HK$1,075 million, 6.2% of revenue; opex savings of 4% achieved, with opex-to-revenue ratio at 11.1%.
Interim distribution per Share Stapled Unit: 33.80 HK cents.
Outlook and guidance
Management expects AFF growth to accelerate in the second half of 2025, supported by further deleveraging and the full impact of lower interest rates.
Continued investment in AI innovation, digital infrastructure, and international connectivity is planned.
Enterprise revenue growth targeted at 10%-12% for the full year, with optimism for both consumer and commercial segments.
Full-year interest savings expected at 25%-30% if HIBOR remains low.
Second half working capital expected to improve as project completions drive collections.
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