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HKT Trust and HKT (6823) investor relations material
HKT Trust and HKT H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 5% year-on-year to HK$36,553 million (US$4,686 million), with EBITDA up 4% to HK$14,234 million (US$1,825 million) and adjusted funds flow rising 4% to HK$6,199 million (US$795 million).
Net profit attributable to holders increased 4% to HK$5,286 million (US$678 million), with total distribution per share stapled unit at 81.77 HK cents.
Maintained investment grade credit ratings (Moody’s Baa2, S&P BBB) and a solid capital structure.
Achieved strong performance amid macroeconomic and geopolitical uncertainty, driven by enterprise, broadband, and 5G growth.
AI adoption enhanced efficiency and digital transformation for both consumer and enterprise segments.
Financial highlights
Revenue excluding mobile product sales rose 3% to HK$33,016 million (US$4,233 million); EBITDA margin (excluding mobile product sales) improved to 43.1%.
Dividend yield sustained at 6.9%, with a 5-year CAGR of 3% in distributions.
Net finance costs decreased 23% to HK$1,720 million; effective tax rate at 14%.
Operating costs-to-revenue ratio improved to 8.7% from 9.5%, reflecting 4% opex savings.
Post-paid ARPU for December 2025: HK$195 (+1% year-on-year); post-paid churn rate at 0.7%.
Outlook and guidance
Management expects continued growth in 2026, supported by economic stabilization, government policy, and digital infrastructure investment.
Focus on AI deployment, cloud, and innovation to drive future growth.
Roaming and enterprise revenue growth rates expected to be sustained or improved, leveraging AI and cloud trends.
Ongoing focus on deleveraging and capital structure optimization.
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