HKT Trust and HKT (6823) H1 2026 earnings summary

Executive summary

• Revenue rose 8% year-over-year to HK$18,685 million (US$2,396 million), with EBITDA up 3% to HK$6,586 million (US$844 million) and profit attributable to holders of Share Stapled Units up 4% to HK$2,153 million (US$276 million).

• Growth was driven by broadband upgrades, 5G expansion, enterprise AI solutions, and exclusive content offerings.

• Maintained business resilience and captured new opportunities in AI, 5G, broadband, and enterprise solutions.

• Strategic focus on AI ecosystem, leveraging infrastructure and customer relationships to drive growth.

• Exclusive broadcast rights for FIFA World Cup 2026™ and Premier League extended to 2031, boosting pay TV and cross-selling opportunities.

Financial highlights

• Total revenue: HK$18,685 million (+8% year-over-year); revenue excluding mobile product sales: HK$16,831 million (+3%).

• EBITDA: HK$6,586 million (+3%); EBITDA margin: 35% (39% excluding mobile product sales); AFF: HK$2,639 million (+3%).

• Profit attributable to holders of Share Stapled Units: HK$2,153 million (+4%); basic EPS: 28.41 HK cents.

• Interim distribution per Share Stapled Unit: 34.80 HK cents.

• Product sales surged 83% to HK$238 million, driven by handset demand.

Outlook and guidance

• Management expects continued growth, leveraging AI infrastructure and digital transformation trends.

• Ongoing investment in network upgrades and AI capabilities, with pre-funded capital expenditure from anchor customers.

• Disciplined capital investments with capex to revenue ratio improved to 5.6%.

• Positive business momentum anticipated for the full year barring unforeseen circumstances.

• Focus on sustainable returns and alignment with Hong Kong’s innovation and technology development plans.