Chunghwa Telecom has released its unaudited consolidated operating results for July 2024. The company reported a 1.4% year-over-year increase in unaudited consolidated revenue, reaching NT$17.77 billion. However, operating income saw a decline of 7.0% year-over-year, coming in at NT$3.73 billion, while income before tax decreased by 6.9% to NT$3.74 billion. Net income attributable to shareholders dropped by 7.1% to NT$2.93 billion, and EBITDA fell by 3.9% year-over-year to NT$7.02 billion. Earnings per share (EPS) were NT$0.37.
Chunghwa Telecom noted that its revenue hit a seven-year high for July, largely due to the growing revenue from its ICT and core businesses, including fixed broadband and mobile services. The company highlighted steady growth in operational and business performance, driven by these sectors. The popularity of the Paris Olympic Games broadcast on MOD and Hami Video contributed to a surge in video platform subscriptions, surpassing 3 million. Despite this, operating income decreased year-over-year, primarily due to the expenses associated with Olympic broadcasting rights in July.
In July, both the ICT and core businesses posted positive growth. AIoT revenue achieved double-digit growth year-over-year, driven by the recognition of solar farm projects. Cybersecurity service revenue also grew at a double-digit rate, owing to increased demand from government regulations and rising cybersecurity threats. Additionally, revenues from IDC, cloud, and ICT integrated projects all saw year-over-year increases, contributing to the overall growth in ICT business revenue.
The fixed broadband segment continued its steady growth, supported by an increasing number of subscribers attracted by high-speed promotion packages. Broadband access and data communication revenues grew by 4.0% and 3.2% year-over-year, respectively. The number of subscribers opting for packages with speeds of 300Mbps or higher reached 1.44 million. Mobile service revenue increased, mainly due to the growing number of 5G and postpaid SIM subscribers. The number of postpaid subscribers grew by 1.9% year-over-year, with mobile postpaid ARPU continuing its consecutive year-over-year growth for more than three and a half years. The mobile postpaid churn rate remained the lowest among peers at 0.45%. As of June, Chunghwa Telecom led its peers with over 3.5 million 5G subscribers and the highest blended 5G penetration rate.
As of July 2024, the accumulated unaudited consolidated revenue reached NT$126.83 billion, achieving 99.2% to 99.8% of the target. Operating income was NT$27.58 billion, with an achievement rate of 104.0% to 105.8%. Income before tax amounted to NT$28.07 billion, achieving 103.5% to 105.3% of the target. Net income attributable to shareholders was NT$22.14 billion, achieving 103.8% to 106.2% of the target, with an EPS of NT$2.85, also achieving 103.8% to 106.2% of the target. Operating income, income before tax, and EPS all exceeded the company’s guidance.
