Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Fourth Quarter and Full Year of 2023
(Comparisons throughout the press release, unless otherwise stated, are made with regard to the prior year period . )
Fourth Quarter 2023 Financial Highlights
- Total revenue increased by 4.0% to
-
-
-
- Total operating costs and expenses increased by 4.4% to
- Operating income decreased by 4.6% to
- EBITDA decreased by 2.2% to
- Net income attributable to stockholders of the parent decreased by 1.7% to
- Basic earnings per share (EPS) was
- Excluding one-time impairments, including impairment loss of investment property and telecom equipment caused by the phase-out of 3G network, operating income and net income attributable to stockholders increased by 2.2% and 7.2% year over year respectively.
Full Year 2023 Financial Highlights
- Total revenue increased by 3.0% to
-
-
-
- Total operating costs and expenses increased by 3.6% to
- Operating income decreased by 1.0% to
- EBITDA decreased by 0.3% to
- Net income attributable to stockholders of the parent increased by 1.2% to
- Basic earnings per share (EPS) was
- Total revenue, net income attributable to stockholders of the parent and EPS exceeded the high-end target of our full-year guidance.
"
"During the quarter, all three of our business groups reported year-over-year revenue growth, delivering solid results. For our
"In 2023,
"Our history shows that our business is resilient across economic and market cycles, and our teams continue to deliver solid results. The significant momentum in all business offers us the opportunity to further expand. We remain very optimistic about our outlook to lead the industry in all aspects while creating value for our shareholders," Mr.
Revenue
Total revenue for the full year of 2023 increased by 3.0% to
Operating Costs and Expenses
Total operating costs and expenses for the fourth quarter of 2023 increased by 4.4% to
Total operating costs and expenses for 2023 increased by 3.6% to
Operating Income and Net Income
Income from operations for the fourth quarter of 2023 decreased by 4.6% to
Income from operations for 2023 decreased by 1.0% to
Cash Flow and EBITDA
Cash flow from operating activities, as of
Cash and cash equivalents, as of
EBITDA for the fourth quarter of 2023 was
EBITDA for 2023 decreased by 0.3 % to
Business Highlights
Mobile
As of
Fixed Broadband/HiNet
As of
Fixed line
As of
(in NT$ billion)
|
2023 |
2022 |
YoY% |
|||
|
Oct.-Dec. |
Jan.-Dec. |
Oct.-Dec. |
Jan.-Dec. |
Oct.-Dec. |
Jan.-Dec. |
Revenue |
61.86 |
223.20 |
59.50 |
216.74 |
4.0 |
3.0 |
Operating costs and expenses |
50.77 |
176.21 |
48.64 |
170.01 |
4.4 |
3.6 |
Other income and expense (Note 1) |
(0.64) |
(0.64) |
0.10 |
0.09 |
(743.1) |
(783.1) |
Operating income |
10.45 |
46.35 |
10.96 |
46.82 |
(4.6) |
(1.0) |
Income before tax |
10.43 |
46.99 |
10.85 |
47.23 |
(3.8) |
(0.5) |
Net income attributable to stockholders of the parent |
8.26 |
36.92 |
8.40 |
36.48 |
(1.7) |
1.2 |
EBITDA |
20.38 |
86.01 |
20.84 |
86.25 |
(2.2) |
(0.3) |
EPS(NT$) |
1.06 |
4.76 |
1.08 |
4.70 |
(1.7) |
1.2 |
2024 Guidance
For 2024, the Company expects total revenue to increase by NT$ 5.34~NT$6.99 billion, or 2.4%~3.1%, to NT$228.54~NT$230.19 billion as compared to the
Acquisition of Property, Plant and Equipment in 2024 is expected to increase by
(NT$ billion except EPS) |
2024(F) |
2023
( |
change |
YoY(%) |
Revenue |
228.54~230.19 |
223.20 |
5.34~6.99 |
2.4%~3.1% |
Operating Costs and Expenses |
183.30~184.27 |
176.21 |
7.09~8.06 |
4.0%~4.6% |
Other Income and Expense |
(0.01)~0.58 |
(0.64) |
0.63~1.22 |
(193.2%)~(98.8%) |
Income from Operations |
45.23~46.50 |
46.35 |
(1.12)~0.15 |
(2.4%)~0.3% |
Non-operating Income |
0.67~1.08 |
0.64 |
0.03~0.44 |
5.6%~68.1% |
Income before Income Tax |
45.90~47.58 |
46.99 |
(1.09)~0.59 |
(2.3%)~1.3% |
Net Income Attributable to Stockholders of The Parent |
35.66~37.20 |
36.92 |
(1.26)~0.28 |
(3.4%)~0.8% |
EPS(NT$) |
4.60~4.80 |
4.76 |
(0.16)~0.04 |
(3.4%)~0.8% |
EBITDA |
85.67~86.95 |
86.01 |
(0.34)~0.94 |
(0.4%)~1.1% |
EBITDA Margin |
37.5%~37.8% |
38.5 % |
(1.0%)~(0.7%) |
|
Acquisition of Material Assets |
36.82 |
32.97 |
3.85 |
11.7 % |
Acquisition of Property, Plant and Equipment and Intangible Assets |
34.02 |
30.98 |
3.04 |
9.8 % |
Others |
2.80 |
1.99 |
0.81 |
40.5 % |
Disposal of Material Assets |
- |
0.02 |
(0.02) |
(100 %) |
Note 1: "Other income and expenses" includes gains (losses) on disposal of property, plant and equipment (PP&E) and investment property, and impairment loss on PP&E and investment property.
Note 2: The calculation of growth rates is based on NT$ thousand.
Financial Statements
Financial statements and additional operational data can be found on the Company's website at http://www.cht.com.tw/en/home/cht/investors/financials/quarterly-earnings
NOTE CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the
This press release is not an offer of securities for sale in
NON-GAAP FINANCIAL MEASURES
To supplement the Company's consolidated financial statements presented in accordance with International Financial Reporting Standards pursuant to the requirements of the
In managing the Company's business,
C
AUTIONS ON USE OF NON-GAAP FINANCIAL MEASURES
In addition to the consolidated financial results prepared under T-IFRSs, Chunghwa Telecom also provide non-GAAP financial measures, including "EBITDA". The Company believes that the non-GAAP financial measures provide investors with another method for assessing its operating results in a manner that is focused on the performance of its ongoing operations.
- these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company's T-IFRSs financial measures;
- these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company's T-IFRSs financial measures;
- these non-GAAP financial measures should not be considered to be superior to the Company's T-IFRSs financial measures; and
- these non-GAAP financial measures were not prepared in accordance with T-IFRSs and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principle.
Further, these non-GAAP financial measures may be unique to
About
Contact:
Phone: +886 2 2344 5488
Email: chtir@cht.com.tw
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