PCCW – HONG KONG, February 11, 2015 – The directors (“Directors”) of PCCW Limited (“PCCW” or the “Company”) are pleased to announce the audited consolidated results of the Company and its subsidiaries (collectively the “Group”) for the year ended December 31, 2014. Some key figures are as follows:
- Core revenue increased by 24% to HK$32,962 million; consolidated revenue (including PCPD) increased by 22% to HK$33,277 million
- Core EBITDA increased by 29% to HK$10,506 million; consolidated EBITDA (including PCPD) increased by 29% to HK$10,340 million
- Consolidated profit attributable to equity holders of the Company increased by 76% to HK$3,310 million; basic earnings per share amounted to 45.14 HK cents
- Final dividend of 13.21 HK cents per ordinary share
PCCW’s financial results for 2014 were attributable to commendable work by all the team members to ensure solid business and operational performance of its core businesses.
Core revenue for the year ended December 31, 2014 increased by 24% to HK$32,962 million. Core EBITDA increased by 29% to HK$10,506 million given a strong contribution from HKT and continued growth of the Solutions business.
Including PCPD, consolidated revenue for the year ended December 31, 2014 increased by 22% to HK$33,277 million and consolidated EBITDA increased by 29% to HK$10,340 million. After taking into account a gain after tax and non-controlling interests of HK$1,306 million on the disposal of the entire interest in Pacific Century Place, Beijing by PCPD, consolidated profit attributable to equity holders of the Company increased by 76% to HK$3,310 million. Basic earnings per share were 45.14 HK cents.
The board of Directors (the “Board”) has recommended the payment of a final dividend of 13.21 HK cents per ordinary share for the year ended December 31, 2014.
Mr. B G Srinivas, Group Managing Director of PCCW, said, “The world has been changing rapidly, and consumers and enterprises are increasingly embracing a digital lifestyle. Together with disruptive technologies, the digital phenomenon is ushering in new business models, increasing globalization, posing threats to conventional businesses but also bringing in new opportunities. We cannot but simply embrace this, leverage new technologies and reinvent ourselves to address the opportunities. PCCW Group has the intellectual assets and capabilities to become the digital transformation partner for our clients; and each of our core businesses has been responding to these trend and developments.”
“PCCW Solutions, the Group’s enterprise IT flagship, last year focused on establishing itself as the partner of choice for customers undergoing the transformation into a digital business. As the market leader in Hong Kong, it continued to win significant and long-term contracts from both the private and public sectors for project implementation, outsourcing and data center services. In mainland China, the business registered another year of good growth as we applied our expertise to more diversified industries. In the coming year, we will explore opportunities to expand both in terms of capabilities and geographical reach into the U.S. and European markets,” he added.
“The Media group has been making good progress in its regional and international content distribution strategy reaching eight markets outside of Hong Kong, strengthening its partnerships in the region. It has taken steps in its transformation into a leading digital media and entertainment company through over-the-top (“OTT”) service starting with Hong Kong. The team will also ensure that now TV will extend the best news, sports, music, and entertainment content as well as the best viewing experience on TV and across all connected devices. For instance, the now Player app currently offers more than 50 channels for viewing anytime, anywhere,” Mr. Srinivas said.
“HKT’s acquisition of CSL New World Mobility Limited has firmly established itself as the leading telecom service provider in Hong Kong in not only fixed line and broadband, but also mobile communications. We expect that more significant synergies can be realized in the coming periods and HKT’s business propositions further strengthened by its offerings of integrated and value-added services such as fixed-mobile integration solutions,” he said.
“Pacific Century Premium Developments’ project in Jakarta, Indonesia saw encouraging progress in the last few months. We believe that the 40-storey premium Grade A office building will become a highly sought-after business location for multinational companies including international banking corporations,” he said.
Mr. Srinivas said, “The year 2015 is set to be a year of both challenges and opportunities, the management team will steadfastly execute its strategies to further grow our businesses while closely monitoring the external environment. PCCW’s vision is to become a global leader in the increasingly digital world. Given our excellent local and global connectivity, strong media content production and delivery platform, and first-class IT capability, the management team believes that we can further build on our strengths to drive digital lifestyle and experience to its fullest.”
For further details of the 2014 interim results, please refer to the announcement that has been filed with the Stock Exchange of Hong Kong.
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Note: Core revenue refers to consolidated revenue excluding Pacific Century Premium Developments Limited (“PCPD”), the Group’s property development and investment business; core EBITDA refers to consolidated EBITDA excluding PCPD.
About PCCW Limited
PCCW Limited (SEHK: 0008) is a Hong Kong-based company which holds interests in telecommunications, media, IT solutions, property development and investment, and other businesses.
The Company holds a majority interest in HKT, Hong Kong’s premier telecommunications service provider. HKT meets the needs of the Hong Kong public and local and international businesses with a wide range of services including local telephony, local data and broadband, international telecommunications, mobile, and other telecommunications businesses such as customer premises equipment sale, outsourcing, consulting, and contact centers.
PCCW also owns a fully integrated multimedia and entertainment group in Hong Kong, which includes a highly successful IPTV operation, now TV. As the provider of Hong Kong’s first quadruple-play experience, PCCW offers a range of innovative media content and services across four delivery platforms – fixed-line, broadband Internet access, TV and mobile.
Also wholly-owned by the Group, PCCW Solutions is a leading information technology outsourcing and business process outsourcing provider in Hong Kong and mainland China.
In addition, PCCW holds a majority interest in Pacific Century Premium Developments Limited, and overseas investments including the wholly-owned UK Broadband Limited. To learn more about PCCW, please visit www.pccw.com.
For media inquiries, please call:
Stella Wong
Group Communications
Tel: +852 2888 2253
Email: stella.wm.wong@pccw.com
Ivan Ho
Group Communications
Tel: +852 2883 8747
Email: ivan.wy.ho@pccw.com
For investor inquiries, please call:
Marco Wong
Investor Relations
Tel: +852 2514 5084
Email: ir@pccw.com
Issued by PCCW Limited.