Hutchison Telecommunications (HTA) H2 2024 earnings summary

Executive summary

• Reported a net loss of $191.4 million for 2024, a 54% increase from the $124.0 million loss in 2023, mainly due to higher share of net loss from equity-accounted investments and a $31.7 million impairment loss on TPG investment.

• Revenue rose 196% year-over-year to $2.5 million, driven by higher cash balances and increased bank interest rates.

• No dividends declared or paid for 2024; accumulated losses reached $4,250.0 million.

Financial highlights

• Revenue: $2.5 million (2024) vs $0.9 million (2023), up 196%.

• Operating expenses: $2.0 million (2024) vs $1.8 million (2023), up 7%.

• Impairment loss on TPG investment: $31.7 million (non-cash, one-time).

• Share of net loss from equity-accounted investments: $160.3 million (2024) vs $123.1 million (2023), up 30%.

• Basic and diluted loss per share: 1.41 cents (2024) vs 0.91 cents (2023).

Outlook and guidance

• Remains committed to TPG investment and will continue to support TPG.

• No specific forward guidance provided; directors note that further information on business strategies and future prospects is withheld to avoid unreasonable prejudice.