Annual Financial Review
FINANCIAL REVIEW BY SEGMENT
For the year ended December 31,
HK$ million
2020
2021
Better/
(Worse)
Full
Full
H1
H2 Year
H1
H2
Year
y-o-y
Revenue
TSS
-
Local TSS Services
- International Telecommunications
Services
Mobile
Mobile Services
Mobile Product Sales
Pay TV
Other Businesses
Eliminations
Total revenue
Total revenue (excluding Mobile
Product Sales)
Cost of sales
Operating costs before depreciation,
amortization, and gains on
disposal of property, plant
and equipment and right-of-use
assets, net
EBITDA¹
10,386 11,971 22,357 10,243 11,569 21,812
6,622 8,091 14,713 6,926 7,880 14,806
(2)%
1%
3,764
3,880 7,644
3,317
3,689 7,006
(8)%
4,543
5,823 10,366
5,108
6,640 11,748
13%
3,573
4,184 7,757
3,577
4,241
7,818
1%
970
1,639
2,609
1,531
2,399
3,930
51%
647
647
1,231
1,225
2,456
280%
155
210
365
408
464
872
139%
(117)%
5%
13,636 16,144 29,780 14,112 15,919 30,031
(6,941) (8,762) (15,703) (7,550) (9,179) (16,729)
1%
(7)%
(478) (868) (1,346) (1,347) (1,580) (2,927)
14,606 17,783 32,389 15,643 18,318 33,961
(2,119) (2,040) (4,159) (2,378) (2,121) (4,499)
(8)%
TSS
Mobile
Mobile Services
3,801 4,611 8,412 3,824 4,644 8,468
2,050 2,697 4,747 2,072 2,708
2,057 2,639 4,696
1%
4,780
1%
2,058
2,643
4,701
Mobile Product Sales
(7)
58
51
14
65
79
55%
Pay TV
174
174
212
269
481
176%
Other Businesses
(305)
Total EBITDA¹
5,546
(501) (806)
6,981 12,527 5,715
(393)
(603) (996)
(24)%
7,018 12,733
2%
TSS EBITDA Margin
37%
39% 38% 37%
40% 39%
Mobile EBITDA Margin
45%
46%
46% 41%
41%
41%
-
Mobile Services EBITDA' Margin
58%
63%
61%
58%
62%
60%
Pay TV EBITDA¹ Margin
27%
27%
17%
22%
20%
Total EBITDA Margin
38%
39% 39% 37% 38%
37%
Total EBITDA Margin (excluding
Mobile Product Sales)
Depreciation and amortization
Gains on disposal of property, plant
41% 43% 42% 40% 44% 42%
(2,491) (2,850) (5,341) (2,751) (2,901) (5,652)
(6)%
and equipment and right-of-use
assets, net
2
Other (losses)/gains, net
(50)
Finance costs, net
(658)
2
411 361
(638) (1,296) (561)
2
22
24
>500%
(8)
(8)
NA
(587) (1,148)
11%
Share of results of associates and joint
ventures
Profit before income tax
(30)
(49) (79) (63)
2,319 3,855 6,174 2,342
(67) (130)
3,477 5,819
(65)%
(6)%
Profit before income tax (excluding
other (losses)/gains, net)
2,369
3,444
5,813
2,342 3,485 5,827
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