Hutchison Telecommunications (HTA) H2 2024 earnings summary

Executive summary

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

• Revenue rose to $2.5 million from $0.9 million year-over-year, driven by higher cash balances and increased bank interest rates.

• The company’s principal activity remains its 25.05% equity interest in TPG Telecom Limited, with no direct operational activities.

Financial highlights

• Revenue: $2.5 million in 2024, up 196% from $0.9 million in 2023.

• Net loss: $191.4 million in 2024, compared to $124.0 million in 2023.

• Share of net loss from equity-accounted investments: $160.3 million in 2024, up from $123.1 million in 2023.

• Impairment loss on equity-accounted investments: $31.7 million in 2024.

• Basic and diluted loss per share: 1.41 cents in 2024, compared to 0.91 cents in 2023.

Outlook and guidance

• No dividends declared or paid for 2024; no dividend/distribution reinvestment plans in place.

• Directors believe further information on business strategies and future prospects would result in unreasonable prejudice to the Group.