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Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Third Quarter of 2024

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TAIPEI, Nov. 6, 2024 /PRNewswire/ — Chunghwa Telecom Co., Ltd. (TAIEX: 2412, NYSE: CHT) (“Chunghwa” or “the Company”) today reported its un-audited operating results for the third quarter of 2024. All figures were prepared in accordance with Taiwan-International Financial Reporting Standards (“T-IFRSs”) on a consolidated basis.

(Comparisons throughout the press release, unless otherwise stated, are made with regard to the prior year period.)

Third Quarter 2024 Financial Highlights

Total revenue increased by 3.6% to NT$ 55.61 billion.Consumer Business Group revenue increased by 2.1% to NT$ 34.43 billion.Enterprise Business Group revenue increased by 5.9% to NT$ 17.60 billion.International Business Group revenue increased by 1.4% to NT$ 2.37 billion.Total operating costs and expenses increased by 4.8% to NT$ 44.23 billion.Operating income decreased by 0.8% to NT$ 11.38 billion.EBITDA decreased by 0.5% to NT$ 21.26 billion.Net income attributable to stockholders of the parent decreased by 1% to NT$ 9.01 billion.Basic earnings per share (EPS) was NT$1.16.Operating income, net income attributable to stockholders of the parent, and EPS all exceeded our proposed guidance.

“The Company delivered solid results in this quarter highlighted by exceptional operational performance across all business segments,” stated Mr. Chih-Cheng Chien, Chairman and CEO of Chunghwa Telecom. “We have set a new record for total revenue for the same quarter over the past seven years, reinforcing our leadership in Taiwan’s mobile market with a revenue market share of 40.3% and a subscriber share of 37.8%. Our blended 5G penetration rate continued to expand to 33.5%, maintaining leadership in Taiwan. Additionally, thanks to our expansion on cross-tier upgrade promotion package to include 1Gbps service offerings, our 1 Gbps subscriber net-adds doubled during the quarter.”

“Looking into the details of our three business groups, the Consumer Business Group maintained its healthy growth trajectory, driven by 5G migration and increasing postpaid subscribers, steady fixed broadband revenue, and higher OTT revenue from our exclusive broadcast of the Paris Olympic Games. We achieved double-digit year-over-year growth in video-related revenue, driven by the increasing subscriptions to our video platforms, which have exceeded 3 million,” said Mr. Rong-Shy Lin, President of Chunghwa Telecom. “Our Enterprise Business Group performed as anticipated, driven by a robust 22% year-over-year growth in our ICT business revenue. Notably, revenue from 5G private networks and big data analysis surged significantly, fueled by the 5G O-RAN project and smart government initiatives. Furthermore, we are pleased with the performance of our International Business Group, where income before tax increased by 11% year-over-year, primarily driven by our overseas ICT business. Excitingly, our European subsidiary in Frankfurt commenced operations on July 30, and we are well-prepared to offer ICT solutions to high-tech European markets,” added Mr. Lin.

“In terms of development of advanced networks and technologies, Chunghwa Telecom continues to lead the industry by initiating the world’s first IOWN APN between Taiwan and Japan with NTT Group during the quarter. We are also the exclusive provider of OneWeb low-earth-orbit satellite, with more than 90% coverage in Taiwan by the third quarter,” Mr. Chien continued. “On the ESG front, we have received SBTi’s verification for our Net-Zero greenhouse gas emissions target, making us the first operator in Taiwan to commit to achieving Net-Zero by 2045, ahead of the world roadmap of 2050. Additionally, we have obtained carbon footprint verification for all of our service centers nationwide, distinguishing us as the only telecom company in Taiwan to achieve this milestone. We remain dedicated to leading the way in ESG best practices.”

“Our solid performance across various sectors underscores our commitment to providing high-quality, advanced, and convenient telecom services. We remain confident that our new management team will continue to drive our progress and create value for our stakeholders,” Mr. Chien added.

Revenue

Chunghwa Telecom’s total revenues for the third quarter of 2024 increased by 3.6% to NT$ 55.61 billion.

Consumer Business Group’s revenue for the third quarter of 2024 increased by 2.1% YoY to NT$ 34.43 billion. Mobile service revenue increased 3% YoY, mainly due to 5G migration and increasing postpaid subscribers, the steady growth of fixed broadband revenue, and the increase of OTT revenue generated from our exclusive broadcast of the Paris Olympic Games. Sales revenue increased 1.3% YoY mainly due to the launch of iPhone 16 series. CBG’s income before tax decreased 0.6% YoY, mainly due to the one-time broadcasting rights fee of the Paris Olympic Games.

Enterprise Business Group’s revenue for the third quarter of 2024 increased 5.9% YoY to NT$ 17.60 billion, mainly driven by our robust growth in ICT business, which saw a 22% year-over-year increase in revenue, fueled by the strong performance of our emerging services. The decline in mobile and fixed voice services offset the growth of 5G migration and speed upgrades, resulting in a slight year-over-year decrease in EBG’s mobile and fixed-line revenues in the third quarter, while income before tax also experienced a year-over-year decrease.

International Business Group’s revenue for the third quarter of 2024 increased by 1.4% to NT$ 2.37 billion, while its income before tax increased 11% YoY. The positive growth was mainly due to the vibrant demand for ICT business in the international market.

Operating Costs and Expenses

Total operating costs and expenses for the third quarter of 2024 increased by 4.8% to NT$ 44.23 billion, mainly due to higher manpower cost and the one-time broadcasting rights fee of the Paris Olympic Games.

Operating Income and Net Income

Operating income for the third quarter of 2024 decreased by 0.8% to NT$ 11.38 billion. The operating margin was 20.5%, as compared to 21.4% in the same period of 2023. Net income attributable to stockholders of the parent decreased by 1% to NT$ 9.01 billion. Basic earnings per share was NT$1.16.

Cash Flow and EBITDA

Cash flow from operating activities, as of September 30th, 2024, decreased by 0.3% year over year to NT$ 49.76 billion, mainly due to a rise in settlement of tax payments, which were deferred to Q4 last year.

Cash and cash equivalents, as of September 30th, 2024, decreased by 2.5% to NT$ 31.22 billion as compared to that as of September 30th, 2023.

EBITDA for the third quarter of 2024 was NT$ 21.26 billion, decreasing by 0.5% year over year. EBITDA margin was 38.23%, as compared to 39.84% in the same period of 2023.

Business Highlights

Mobile

As of September 30th, 2024, Chunghwa Telecom had 13.01 million mobile subscribers, representing a 0.6% year-over-year increase. In the third quarter, total mobile service revenue increased by 2% to NT$ 16.75 billion, while mobile post-paid ARPU excluding IoT SIMs maintained stable and flat year over year at NT$ 552.

Fixed Broadband/HiNet

As of September 30th, 2024, the number of broadband subscribers slightly increased by 0.7% to 4.42 million. The number of HiNet broadband subscribers increased by 1.3% to 3.73 million. In the third quarter, total fixed broadband revenue grew 3.4% year over year to NT$ 11.32 billion, while ARPU increased 1.5% to NT$ 786.

Fixed line

As of September 30th, 2024, the number of fixed-line subscribers was 8.95 million.

Financial Statements

Financial statements and additional operational data can be found on the Company’s website at http://www.cht.com.tw/en/home/cht/investors/financials/quarterly-earnings

NOTE CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about Chunghwa’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Investors are cautioned that actual events and results could differ materially from those statements as a result of a number of factors including, but not limited to the risks outlined in Chunghwa’s filings with the U.S. Securities and Exchange Commission on Forms F-1, F-3, 6-K and 20-F, in each case as amended. The forward-looking statements in this press release reflect the current belief of Chunghwa as of the date of this press release and Chunghwa undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date, except as required under applicable law.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

NON-GAAP FINANCIAL MEASURES

To supplement the Company’s consolidated financial statements presented in accordance with International Financial Reporting Standards pursuant to the requirements of the Financial Supervisory Commission, or T-IFRSs, Chunghwa Telecom also provides EBITDA, which is a “non-GAAP financial measure”.  EBITDA is defined as consolidated net income (loss) excluding (i) depreciation and amortization, (ii) total net comprehensive financing cost (which is comprised of net interest expense, exchange gain or loss, monetary position gain or loss and other financing costs and derivative transactions), (iii) other income, net, (iv) income tax, (v) (income) loss from discontinued operations.

In managing the Company’s business, Chunghwa Telecom relies on EBITDA as a means of assessing its operating performance because it excludes the effect of (i) depreciation and amortization, which represents a non-cash charge to earnings, (ii) certain financing costs, which are significantly affected by external factors, including interest rates, foreign currency exchange rates and inflation rates, which have little or no bearing on our operating performance, (iii) income tax (iv) other expenses or income not related to the operation of the business. 

CAUTIONS ON USE OF NON-GAAP FINANCIAL MEASURES

In addition to the consolidated financial results prepared under T-IFRSs, Chunghwa Telecom also provide non-GAAP financial measures, including “EBITDA”. The Company believes that the non-GAAP financial measures provide investors with another method for assessing its operating results in a manner that is focused on the performance of its ongoing operations.

Chunghwa Telecom’s management believes investors will benefit from greater transparency in referring to these non-GAAP financial measures when assessing the Company’s operating results, as well as when forecasting and analyzing future periods. However, the Company recognizes that:

these non-GAAP financial measures are limited in their usefulness and should be considered only as a supplement to the Company’s T-IFRSs financial measures;these non-GAAP financial measures should not be considered in isolation from, or as a substitute for, the Company’s T-IFRSs financial measures;these non-GAAP financial measures should not be considered to be superior to the Company’s T-IFRSs financial measures; andthese non-GAAP financial measures were not prepared in accordance with T-IFRSs and investors should not assume that the non-GAAP financial measures presented in this earnings release were prepared under a comprehensive set of rules or principle.

Further, these non-GAAP financial measures may be unique to Chunghwa Telecom, as they may be different from non-GAAP financial measures used by other companies. As such, this presentation of non-GAAP financial measures may not enhance the comparability of the Company’s results to the results of other companies. Readers are cautioned not to view non-GAAP results as a substitute for results under T-IFRSs, or as being comparable to results reported or forecasted by other companies.

About Chunghwa Telecom

Chunghwa Telecom (TAIEX 2412, NYSE: CHT) (“Chunghwa” or “the Company”) is Taiwan’s largest integrated telecommunications services company that provides fixed-line, mobile, broadband, and internet services. The Company also provides information and communication technology services to corporate customers with its big data, information security, cloud computing and IDC capabilities, and is expanding its business into innovative technology services such as IoT, AI, etc. Chunghwa has been actively and continuously implemented environmental, social and governance (ESG) initiatives with the goal to achieve sustainability and has won numerous international and domestic awards and recognitions for its ESG commitments and best practices. For more information, please visit our website at www.cht.com.tw

Contact: Angela Tsai

Phone: +886 2 2344 5488

Email: chtir@cht.com.tw

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SOURCE Chunghwa Telecom

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BlackPearl Technology Unveils the Beacon: The Next-Generation Micro Power-Over-Ethernet Edge Gateway for Unmatched Data Aggregation and Connectivity

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BlackPearl Technology’s Beacon is a compact, PoE-powered gateway that extends the Zephyr gauge, supporting up to 200 sensors over a 15-mile range with secure data processing and seamless SCADA integration, redefining industrial IoT.

THE WOODLANDS, Texas, Nov. 6, 2024 /PRNewswire-PRWeb/ — BlackPearl Technology, Inc. is excited to announce the launch of the Beacon, an extended communications module for the award-winning Zephyr. It redefines edge gateway capabilities, offering unparalleled data aggregation and processing in an ultra-compact, PoE-powered micro device. Seamlessly bridge your wireless infrastructure to wired backends or SCADA systems with ease.

“The Beacon represents a quantum leap in edge gateway technology. By combining it with our Zephyr wireless gauge, we’ve created something truly revolutionary in the industrial IoT space,” said David Smith, Co-Founder & VP of Innovation at BlackPearl Technology, Inc.

Key Features and Benefits:

Powered by the Interceptor: Embedded Linux platform for customizable edge software and processing.Advanced LoRaWAN: Built-in concentrator with 15-mile range; network gateway and join server for isolated nodes – eliminates need for external gatewayMassive Aggregation: Collects data from thousands of sensors via WiFi, Bluetooth, and LoRaWAN – can support up to 200 ZephyrsVersatile Connectivity: Bi-directional communication; bridges wireless to wired systems; supports Modbus TCP/IP, RS-485, and MQTTRobust Security: Implements SSL/TLS support for secure data transmission and encrypted storageUser-Friendly Management: Features an embedded web server for easy configuration and updatesCloud Integration: Enables seamless compatibility with partner and private cloud platforms, supporting cloud-based device management for OTA diagnostics and configuration.Flexible Deployment: Adapts to both greenfield (new sensors) and brownfield (existing) systems, operating seamlessly in isolated environments without cloud connectivity.Industrial-Grade: Operates from -40°C to 85°C, comes in a Class 2, Division 2 enclosure (other enclosures available upon request)Edge Processing: Runs almost any edge application, processes data locally, and transmits only critical informationAvailability: Readily available and made in North America

“The Beacon represents a quantum leap in edge gateway technology. By combining it with our Zephyr wireless instrument gauge, we’ve created something truly revolutionary in the industrial IoT space. You have the Zephyr, which can support up to eleven different sensors in one explosion-proof package, communicating with a micro-sized PoE gateway that can handle up to 200 Zephyrs across a 15-mile range. This isn’t just another data collection system – it’s a complete edge-to-edge solution that can transform how industries handle remote monitoring,” said David Smith, Co-Founder and VP of Innovation at BlackPearl Technology.

“What makes this combination so powerful is its versatility and intelligence at the edge. The Beacon processes data locally and sends only what’s critical, while seamlessly bridging wireless infrastructure to wired backends. Whether you’re monitoring wellheads in the Permian Basin, managing agricultural operations across thousands of acres, or overseeing critical refinery equipment, this system adapts to your needs. And with its industrial-grade design operating from -40°C to 85°C and its ability to work in isolated environments without cloud connectivity, it’s built for the real world, not just the ideal world. This is the future of industrial monitoring, and it’s available today.”

This launch follows the recent introduction of BlackPearl’s Zephyr wireless instrument gauge, and Data Nebula, their IIoT cloud data platform. Together, this trio redefines industrial data management, setting a new standard for IIoT solutions with advanced data aggregation, robust processing power, and versatile connectivity options.

For more information and specifications, or to download the data sheet, please visit www.BlackPearlTechnology.com.

About BlackPearl Technology, Inc.:

Headquartered in The Woodlands, Texas, BlackPearl Technology is a leading provider of innovative IIoT solutions for industries worldwide. Specializing in engineering, manufacturing, and client services, the BlackPearl ecosystem supports the entire product design and development lifecycle from conception to full-scale manufacturing.

The BlackPearl team of skilled electrical, mechanical, software, and firmware engineers is dedicated to bringing innovative ideas to life. By leveraging the latest technology, BlackPearl develops reliable solutions that solve problems and enhance operational processes. All design and development work is conducted in North America.

Media Contact

Stephanie Chavez, BlackPearl Technology, 1 (817)262-8168, schavez@blackpearltechnology.com, https://blackpearltechnology.com/ 

View original content to download multimedia:https://www.prweb.com/releases/blackpearl-technology-unveils-the-beacon-the-next-generation-micro-power-over-ethernet-edge-gateway-for-unmatched-data-aggregation-and-connectivity-302296175.html

SOURCE BlackPearl Technology

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MEGAROBO Unveils High-Content Cell Imaging System for Advanced Multidimensional Biological Analysis

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BEIJING, Nov. 6, 2024 /PRNewswire/ — MEGAROBO, a leading provider of advanced productivity tools for life sciences, has recently unveiled the CellVue™ T2000 high-content cell imaging system. The new cell imaging system is more than a digital microscope, featuring a high-sensitivity CMOS imaging camera that seamlessly integrates automated multi-color fluorescence imaging with quantitative data analysis. The system enables in-depth exploration of the multi-dimensional characteristics of individual cells in biological samples, serving a wide range of applications, from basic research to drug discovery and preclinical trials. The technology provides scientists with rapid, high-resolution cell imaging and comprehensive, accurate data support.

As the latest breakthrough in life science research tools, MEGAROBO’s proprietary CellVue™ T2000 builds upon the strengths of traditional high-content imaging systems while achieving remarkable strides in imaging speed, configurability, and functional versatility. With unprecedented efficiency, the system meets the urgent need for high-throughput imaging in complex experimental scenarios, enhancing data stability, reliability, and experimental reproducibility. Furthermore, the solution offers extensive upgrade options for cytotoxicity studies, cell painting and 3D sample studies, ensuring optimal configurations that address the specific needs of different research teams.

In addition, the CellVue™ T2000 has been fully incorporated into AutoBio™, the laboratory automation system developed by MEGAROBO. This integration enables a fully automated workflow from cell seeding, passaging and drug delivery to image detection and analysis. 

“Whether examining the fine structure of the cytoskeleton and nucleus or the spatial relationships between functional proteins, the system can deliver high-definition images and precise data,” said Daniel Huang, Founder and CEO of MEGAROBO. “The capability allows researchers to gain deeper insights into cell biology phenomena and mechanisms. With the CellVue™ T2000 as a starting point, MEGAROBO will continue to facilitate technological innovation in the life sciences sector, inspiring deeper exploration into uncharted territories.”

With a global footprint spanning China, the U.S., Europe, and Southeast Asia, MEGAROBO has solidified its position as a leading force in intelligent automation and life sciences innovation worldwide.

About MEGAROBO

Founded in 2016, MEGAROBO is a science and technology company specializing in providing advanced production tools for life sciences, drug discovery, clinical diagnostics and applied chemistry industries. MEGAROBO has closed the Series C financing round, securing long-term support from key investors including WuXi AppTec, Bosch, Sino Biological, Goldman Sachs Asset Management, Asia Investment Capital, Jiyuan Capital, Sinovation Ventures, Joy Capital, MPCi and Pavilion Capital.

View original content:https://www.prnewswire.com/news-releases/megarobo-unveils-high-content-cell-imaging-system-for-advanced-multidimensional-biological-analysis-302297326.html

SOURCE MEGAROBO

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Propel Holdings named one of Canada’s Enterprise-Industry Leaders winners in Deloitte’s Technology Fast 50 program

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TORONTO, Nov. 6, 2024 /CNW/ – Propel Holdings Inc. (“Propel” or the “Company”) (TSX: PRL) was honored as an Enterprise—Industry Leaders award winner as part of Deloitte’s 2024 Technology Fast 50™ program. The award recognizes the fastest-growing enterprise-level technology, media, and telecommunications companies by revenue growth percentage over their last four years of operation. This category is open to companies that recorded a minimum revenue of $10 million in 2020 and $50 million in 2023.

Propel ranked 11th in the Enterprise—Industry Leaders category after its four-year revenue growth percentage of 333%.

Propel’s CEO Clive Kinross, credits Propel’s AI-powered technology and mission of furthering financial inclusion, along with the team’s relentless drive with the company’s success. Kinross said, “Today, we have enabled close to 1.5 million loans and lines of credit to underserved consumers in North America, but we won’t stop there. Backed by our AI-powered technology and the best talent, we have set our eyes on global growth. We are making credit more inclusive, and we are just getting started.”

“The Enterprise—Industry Leaders exemplify the strength and resilience of Canada’s business landscape, showcasing their ability to navigate challenges and drive sustainable growth,” highlighted Anders McKenzie, the National Technology Fast 50 program leader at Deloitte Canada. “As established leaders in their industries, these companies have demonstrated their capacity to innovate, adapt, and transform in a rapidly evolving digital landscape. By embracing emerging technologies, fostering a culture of continuous improvement, and leveraging their extensive resources, these Enterprise –Industry Leaders have positioned themselves as industry leaders, setting new benchmarks for success. Their achievements not only contribute to their own organizational growth but also inspire and shape the future of Canada’s technology sector.”

About the Deloitte Technology Fast 50 program

The Deloitte Technology Fast 50 program is Canada’s pre-eminent technology awards program. It recognizes business growth, innovation, and entrepreneurship in four distinct categories: Technology Fast 50, Enterprise—Industry Leaders, Clean Technology, and Companies-to-Watch. The program also recognizes thriving technology companies in the United States and Canada in partnership with the North American Technology Fast 500 program. Program sponsors for 2024 include RBCx, Osler, EDC, CCI, TMX, Clarity, and Lafond. For more information, visit www.fast50.ca.

About Propel

Propel Holdings (TSX: PRL) is the fintech company building a new world of financial opportunity for consumers, partners, and investors. Propel’s operating brands — Fora Credit, CreditFresh and MoneyKey — and our Lending-as-a-Service product line facilitate access to credit for consumers underserved by traditional financial institutions. Through its AI-powered platform, Propel evaluates customers in a more comprehensive way than traditional credit scores can. The result is better products and an expanded credit market for consumers while creating sustainable, profitable growth for Propel.  Our revolutionary fintech platform has already helped consumers access over one million loans and lines of credit and over one billion dollars in credit. At Propel, we are here to change the way customers, partners and investors succeed together.

Learn more at www.propelholdings.com

(www.foracredit.cawww.creditfresh.comwww.moneykey.com)

SOURCE Propel Holdings Inc.

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