Taiwan Mobile (3045) Q4 2025 earnings summary

Executive summary

• Achieved record-high consolidated EBITDA, EBIT, and net income in 2025, with EBIT up 6% YoY and EPS reaching NT$4.77, a 7-year high, driven by growth in Telco Plus, tech, and AI-driven efficiencies.

• Transformation into a Telco+Tech enterprise and synergies from the T-Star merger significantly boosted profitability and operational leverage.

• Board approved NT$14.52 billion (TWD 14.52 billion) cash dividend, up 7% YoY, with payout ratio over 100%.

• Consolidated financial statements for 2025 and 2024 were audited and present fairly in all material respects, in accordance with IFRS and local regulations.

• The Group operates in telecommunications, retail (e-commerce), cable TV, and broadband, with diversified revenue streams and a broad subsidiary structure.

Financial highlights

• 2025 consolidated revenue was NT$198.8 billion (flat YoY); net profit NT$16.2 billion, up from NT$15.8 billion in 2024; EPS at NT$4.77.

• Q4 2025 telecom revenue grew 12% YoY, accounting for 45% of consolidated revenue; telecom EBITDA up 12% YoY, contributing 79% of consolidated EBITDA.

• EBITDA for 2025 reached NT$43.17 billion, up 2% YoY; operating income NT$21.45 billion, up 6% YoY.

• Free cash flow for 2025 was NT$21.49 billion, up from NT$19.74 billion in 2024, with a free cash flow yield of 6.5%.

• Board approved TWD 14.52 billion in cash dividends (TWD 4.8 per share), a 7% YoY increase and highest since 2019, with payout ratio over 100%.

Outlook and guidance

• 2026 consolidated revenue and telecom-related revenues projected to grow 5%-7% YoY, with telecom operating profit expected to rise 4%-6%.

• CapEx budget for 2026 set at NT$8.24 billion, with NT$6.13 billion allocated to mobile and fixed networks.

• Continued focus on AI-driven operational efficiency and customer engagement to support growth.

• The Group is assessing the impact of new IFRS standards effective from 2026 and 2027, with no material impact expected from those endorsed so far.

• The Board proposed a total dividend distribution of NT$4.8 per share for 2025, subject to AGM approval.