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PCCW (8) investor relations material
PCCW H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased 7% year-over-year to HK$18,922 million (US$2,426 million), with EBITDA up 6% to HK$6,010 million (US$771 million), and consolidated profit rising 116% to HK$758 million.
Viu maintained market leadership with 13.8 million paid subscribers, driving 27% growth in subscription and advertising revenues, and digital memberships rose to 3.3 million.
HKT leveraged digital infrastructure and AI to drive enterprise and consumer growth, with revenue up 4% and strong demand in mobile and technology solutions.
Interim dividend of 9.77 HK cents per share declared, maintaining stable shareholder returns.
Free TV & Related Business experienced lower revenue due to event timing, but expects a rebound in the second half with a strong content and event lineup.
Financial highlights
HKT revenue up 4% to HK$17,322 million (US$2,221 million); EBITDA up 3% to HK$6,380 million (US$818 million); AFF and distributions up 3%.
OTT business revenue grew 10% to HK$1,194 million (US$153 million); EBITDA up 51% to HK$346 million (US$44 million), with margin expanding to 29%.
Free TV & Related Business revenue declined 29% to HK$343 million (US$44 million); EBITDA down 48% to HK$47 million (US$6 million).
OPEX decreased 5% to HK$2,933 million (US$376 million); OPEX ratio improved from 17.4% to 15.5%.
Net cash generated from operating activities was HK$5,074 million.
Outlook and guidance
Strong line-up of concerts and shows in the second half expected to boost Free TV & Related Business revenues.
Viu aims to reach positive cashflow through content expansion and strategic partnerships in the coming months.
Prudent dividend policy to support sustainable growth and adapt to changing market conditions.
- TimeTickerHeadlineOpen
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Charter amendments seek to modernize governance and establish one share, one vote by 2026. - 6 FebARI
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Record revenues and assets, higher dividend, and acquisitions despite lower net income. - 6 FebFFIE
Raising capital for global EV and AI expansion, with regulatory and dilution risks highlighted.
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