Taiwan Mobile (3045) Q4 2025 earnings summary

Executive summary

• Achieved record-high consolidated EBITDA, EBIT, and net income in 2025, with EBIT up 6% year-over-year to a 14-year peak and EPS reaching a 7-year high at NT$4.77, driven by Telco Plus, Telco Plus Tech, and merger synergies.

• Growth was fueled by telco, enterprise, and new tech businesses, with strong performance in mobile, broadband, and digital services.

• AI-driven operational efficiencies and robust execution of growth strategies underpinned profitability.

• Board approved NT$14.52bn (TWD 14.52 billion) cash dividend, up 7% year-over-year, with a payout ratio over 100%.

Financial highlights

• 2025 consolidated revenue was NT$198.76bn (flat year-over-year); net income NT$14.44bn, up 4% year-over-year.

• Q4 2025 telecom revenue grew 12% year-over-year, accounting for 45% of consolidated revenue.

• Telecom EBITDA rose 12% year-over-year, contributing 79% of consolidated EBITDA in Q4.

• Full-year EBITDA and operating income increased by 2% and 6%, respectively, with telecom EBIT up 18% year-over-year.

• Free cash flow for 2025 was NT$21.49bn, up from NT$19.74bn in 2024, with a free cash flow yield of 6.5%.

Outlook and guidance

• 2026 consolidated and telecom-related revenues are projected to grow 5%-7% year-over-year.

• Telecom operating profit expected to increase 4%-6% in 2026; consolidated operating profit projected to rise 1–2% year-over-year.

• Board approved TWD 8.24 billion CapEx budget for 2026, with TWD 6.13 billion allocated to mobile and fixed networks.

• Dividend payout ratio for 2025 is over 100%, with TWD 14.52 billion in cash dividends (TWD 4.8 per share), a 7% increase from the previous year.