HONG KONG, March 9, 2010 - PCCW Limited (the "Company") today reported the audited consolidated results of the Company and its subsidiaries (the "Group") for the year ended December 31, 2009. Some highlights are as follows:
- Consolidated profit attributable to equity holders of the Company increased by 18% to HK$1,506 million
- Core revenue* decreased by 5% to HK$20,855 million; consolidated revenue including PCPD decreased by 22% to HK$25,077 million, reflecting lower property development revenue recognized
- Core EBITDA* remained firm at HK$6,718 million; consolidated EBITDA including PCPD decreased by 6% to HK$7,499 million
- TV & Content achieved profitability milestone in 2009
- Basic earnings per share improved to 22.24 HK cents in 2009 from 18.78 HK cents in 2008
- Final dividend of 13.3 HK cents per share
Against a backdrop of economic downturn, intense market competition and adverse regulatory decisions, the Company recorded a satisfactory performance in 2009.
Consolidated profit attributable to equity holders of the Company for the year ended December 31, 2009 jumped 18% to HK$1,506 million.
Core EBITDA for the year ended December 31, 2009 remained firm at HK$6,718 million, with core EBITDA margin improving to 32% in 2009 from 31% in 2008, even though core revenue for the year decreased by 5% to HK$20,855 million. Consolidated revenue including PCPD was HK$25,077 million, reflecting significantly lower revenue recognition from the Bel-Air property development project during the year.
Group Managing Director Alex Arena said, "Following the successive turnarounds of the Mobile business in 2007 and the TV & Content business in 2009, all our quadruple-play segments are now contributing positive EBITDA and represent a solid platform for further development."
"Our market position has consolidated and is secure. We believe that as the economic conditions improve, we are well poised for growth across the business as a whole," he said.
For further details of the 2009 annual results, please refer to the announcement that has been filed with the Stock Exchange of Hong Kong.
* Note: Core revenue refers to consolidated revenue excluding Pacific Century Premium Developments Limited (PCPD), the Group's property development and investment business, while core EBITDA refers to consolidated EBITDA excluding PCPD.
Webcast of 2009 Annual Results Announcement
2009 Annual Results Presentation [pdf - 1MB]
About PCCW Limited
PCCW Limited (SEHK:0008) is the holding company of HKT Group Holdings Limited (HKT), Hong Kong's premier telecommunications provider and a world-class player in Information and Communications Technologies. PCCW also holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited.
As the provider of Hong Kong's first quadruple-play experience, PCCW/HKT offers a range of innovative media content and services across four platforms - fixed-line, broadband Internet access, TV and mobile. In addition, the Group meets the sophisticated needs of the local and international business community, while supporting network operators with cutting-edge technical services and handling large-scale IT outsourcing projects for public and private sector organizations. To learn more about PCCW and HKT, please visit www.pccw.com.
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