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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
MTR
MTR (66) investor relations material
MTR H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary13 Aug, 2026
Executive summary
Net profit attributable to shareholders surged 105.9% year-over-year to HK$15.9 billion, driven by a significant increase in property development profit and steady recurrent business performance.
Recurrent business profit rose 1.3% to HK$3.4 billion, with steady growth in Hong Kong transport operations and higher contributions from Chinese Mainland and international businesses.
Interim dividend maintained at HK$0.42 per share.
Seven major railway projects are progressing, supporting Hong Kong’s development and future sustainable growth.
Total revenue declined 4.1% to HK$26.2 billion, mainly due to the end of certain international service contracts, partially offset by higher Hong Kong transport patronage.
Financial highlights
Profit from property development rose 120.7% to HK$12.2 billion, mainly from Tai Wai Station and THE SOUTHSIDE Package 5.
Underlying business profit was HK$15.7 billion, with EPS at HK$2.55, up 105.6% year-over-year.
EBIT loss of HK$141 million in Hong Kong transport operations, mainly due to higher maintenance expenses, no fare increase, and increased depreciation.
EBITDA margin improved to 34.1%; net debt-to-equity ratio stood at 21.7%, and interest cover rose to 34.8 times.
Cash and deposits increased to HK$114 billion, reflecting strong financing activities.
Outlook and guidance
Preparing for a construction peak period with multiple railway projects underway, including Northern Link, Tuen Mun South Extension, and Tung Chung Line Extension.
Continued booking of property development profits expected in phases this year, supporting railway construction and operations.
Two new property projects expected to be tendered in the next 12 months, with a total potential yield of about 8,000 units.
Emphasis on digital transformation, AI, and technology to enhance competitiveness and service quality.
Ongoing forward-looking financial planning to address substantial investment needs and market uncertainties.
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Latest events from MTR
- Recovery lifted revenue, but weaker development profit cut net income and debt increased.66
H2 2023 - Net profit reached HK$14.7B as property gains offset weaker recurrent business.66H2 2025
- Net profit up 27.5% to HK$7.7B, driven by property gains; recurrent profit declined on higher costs.66H1 2025
- Net profit surged 44.7% to HK$6,044 million, driven by transport and property gains.66H1 2024
- Net profit doubled to HK$15.8B on property gains; major rail expansion and reinvestment ahead.66H2 2024
Next MTR earnings date
H2 20269 Mar, 2027
MTR
Next MTR earnings date
H2 20269 Mar, 2027
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Frequently asked questions
MTR Corporation Limited is a Hong Kong-based company that operates and manages Hong Kong’s mass transit railway system, providing comprehensive public transportation services. In addition to rail operations, MTR Corporation is involved in property development and management, with investments in residential, commercial, and retail projects around its railway network. The company also manages rail projects and offers consultancy services internationally, with operations and partnerships in Mainland China, the United Kingdom, Australia, and other regions. The company is headquartered in Hong Kong, China, and its shares are listed on the HKEX.