Annual Financial Review
Mobile
For the year ended December 31,
HK$ million
Mobile Revenue
Mobile Services
Mobile Product Sales
Total Mobile Revenue
Mobile EBITDA¹
Mobile Services
Mobile Product Sales
Total Mobile EBITDA¹
2020
2021
Better/
(Worse)
Full
Full
H1
H2 Year
H1
H2 Year
y-o-y
3,573 4,184 7,757
970 1,639 2,609
3,577 4,241 7,818
1,531 2,399 3,930
1%
51%
4,543 5,823 10,366 5,108
6,640 11,748
13%
2,057
(7)
2,639
58
4,696
51
2,058
14
2,643
65
4,701
79
55%
2,050 2,697 4,747 2,072
2,708 4,780
1%
Mobile EBITDA' margin
Mobile Services EBITDA' margin
45% 46% 46% 41% 41% 41%
58% 63% 61% 58% 62% 60%
The Mobile business recorded a healthy 13% growth in revenue to HK$11,748 million for the year ended
December 31, 2021.
Mobile services revenue rose by 1% to HK$7,818 million, as the 2% growth in local core revenue more than
offset the overhang of moderated roaming and IDD revenue resulting from extended travel restrictions. The
expansion in local core revenue benefited from the ARPU uplift from new subscriptions and upgrades to our
5G plans alongside growth in our overall customer base.
Mobile product sales increased by 51% to HK$3,930 million reflecting consumer upgrades to new 5G
handset models amid improved sentiment and increased spending stimulated by the Government's
Consumption Voucher Scheme. Revenue growth was also aided by our digital platform, Club Shopping,
which provides customers with a convenient service through our "redeem and shop" offerings that also helps
to build customer loyalty.
Despite intense market competition, the Mobile business continued to report a net gain in post-paid
customers to 3.297 million in 2021, representing net additions of 45,000 or 1% growth during the year. By
leveraging The Club to deepen customer engagement and loyalty, the churn rate for post-paid customers
reached an all-time low of 0.7% in 2021.
In November 2021, the Mobile business launched a unique and innovative digital campaign “csl. 5G x
MIRROR" which incorporated AR technology. Receiving an overwhelming response, the campaign has
helped to further drive subscriptions to our 5G plans. As at the end of December 2021, our 5G customer base
was 680,000. By January 2022, this had increased further to 756,000 customers representing 23% of our
post-paid base as subscribers were pulled in by our first to market 5G celebrity premium plans. The post-paid
exit ARPU as at December 31, 2021 rebounded by 2% to HK$187 versus HK$184 as at December 31, 2020,
primarily driven by the 5G service plan uplift.
Mobile services EBITDA for the year was steady at HK$4,701 million with a margin of 60% reflecting
continuing discipline in operating expenditure and optimization of offline-to-online sales channels. Total
Mobile EBITDA for the year increased by 1% to HK$4,780 million from HK$4,747 million a year earlier
supported by the healthy growth in Mobile product sales.
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