Financial Performance - Chunghwa Telecom Co., Ltd. reported consolidated financial performance for the year ended December 31, 2024, in accordance with International Financial Reporting Standards[5]. - The consolidated financial statements for the year ended December 31, 2023, were audited by other independent auditors who expressed an unmodified opinion[12]. - The Company’s financial position and results of operations are presented in accordance with the Regulations Governing the Preparation of Financial Reports by Securities Issuers[6]. - Revenues for 2024 reached NT$229,968,292, a 3.9% increase from NT$223,199,260 in 2023[28]. - Gross profit margin remained stable at 36%, with gross profit of NT$83,385,495 in 2024 compared to NT$81,432,542 in 2023[28]. - Net income for 2024 was NT$38,537,502, a slight increase of 1.4% from NT$37,990,536 in 2023[30]. - Total comprehensive income for 2024 was NT$40,617,994, compared to NT$38,659,749 in 2023, reflecting a growth of 5.1%[30]. - Basic earnings per share for 2024 were NT$4.80, up from NT$4.76 in 2023[30]. Assets and Liabilities - Total current assets for 2024 amount to NT$112,968.31 million, an increase from NT$103,203.56 million in 2023, representing an increase of 9.3%[26]. - Total non-current assets for 2024 are NT$66,283.20 million, a decrease from NT$69,000 million in 2023, reflecting a decline of 3.9%[26]. - The total liabilities for 2024 are NT$66,283.20 million, compared to NT$69,000 million in 2023, indicating a decrease of 3.9%[26]. - The company reported receivables from related parties of NT$19,300 million in 2024, compared to NT$78,089 million in 2023, a decrease of 75.7%[26]. - The company’s total current liabilities for 2024 are NT$66,283.20 million, a decrease from NT$69,000 million in 2023, indicating a decline of 3.9%[26]. Cash Flow and Investments - Cash generated from operations for 2024 was NT$88,517,195, up from NT$83,980,288 in 2023, reflecting a growth of 5.5%[32]. - Net cash provided by operating activities increased to NT$79,244,321 in 2024 from NT$74,559,793 in 2023, marking a rise of 6.3%[32]. - The company reported a net cash used in investing activities of NT$35,332,123 in 2024, a decrease from NT$50,174,013 in 2023, indicating improved cash flow management[34]. - The company acquired a 10-year unsecured cumulative subordinated corporate bond of Fubon Life Insurance Co., Ltd. for $2,000,000 thousand in October 2024[163]. Ownership and Subsidiaries - The company maintains a 100% ownership in subsidiaries such as Light Era Development Co., Ltd. and Chunghwa Telecom Singapore Pte., Ltd.[49]. - Chunghwa Telecom's ownership in Chunghwa Leading Photonics Tech Co., Ltd. decreased from 75% in 2023 to 70% in 2024[49]. - The company has expanded its international presence with 100% ownership in Chunghwa Telecom Europe GmbH, established in 2024[51]. - Chunghwa Telecom's subsidiaries include a mix of telecommunications services and technology solutions, indicating a diversified business model[49]. Audit and Compliance - Management is responsible for the preparation and fair presentation of the consolidated financial statements, ensuring they are free from material misstatement[14]. - The audit included evaluating the effectiveness of internal controls related to revenue recognition on mobile services, including testing automated and manual controls[15]. - The auditors communicated significant audit findings and deficiencies in internal control to those charged with governance[20]. - The Company must assess its ability to continue as a going concern and disclose any relevant matters[16]. Revenue Recognition and Financial Instruments - Revenue from product sales is recognized when products are delivered and accepted by customers, with specific recognition criteria for different service types[112][113]. - Financial assets at fair value through profit or loss decreased to NT$29,004 million in 2024 from NT$90,400 million in 2023, indicating a significant decline of 67.9%[26]. - The Company recognizes lifetime Expected Credit Loss (ECL) for accounts receivable and contract assets, reflecting potential credit risks[98]. - The cumulative gain or loss from investments in equity instruments at FVOCI is transferred to retained earnings upon disposal[95]. Expenses and Profitability - Operating expenses increased to NT$36,634,212, representing 16% of revenues, up from 15% in the previous year[28]. - Non-operating income increased to NT$880,653 in 2024, compared to NT$639,411 in 2023[28]. - Marketing expenses rose to NT$25,103,662, accounting for 11% of total revenues, compared to 10% in 2023[28]. - Research and development expenses increased to NT$4,167,200, maintaining 2% of total revenues[28]. Equity and Shareholder Information - The company reported a total equity of NT$398,104,856 as of the end of 2024[30]. - The total equity attributable to stockholders of the parent as of December 31, 2024, was NT$384,950,690, up from NT$382,308,088 in 2023, reflecting a growth of 0.7%[31]. - Cash dividends paid in 2024 amounted to NT$36,909,931, slightly higher than NT$36,475,514 in 2023, showing an increase of 1.2%[34].

Group 1 - Chunghwa Telecom filed its 2024 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission, which is available online [1] - The company is Taiwan's largest integrated telecommunications services provider, offering mobile services, fixed-line services, and ICT business [2] - Chunghwa Telecom is expanding into innovative technology services and has been recognized for its ESG practices with various awards [2] Group 2 - The company provides information and communication technology services to corporate customers, leveraging big data, information security, cloud computing, and IDC capabilities [2] - Hard copies of the complete audited financial statements can be requested free of charge by contacting the company [1]

Regulatory Changes - The NCC announced a reduction in the "monthly rental fee of broadband network circuit" by "3.32% minus annual growth rate of the Consumer Price Index (CPI)" effective from April 1, 2024[18]. - The upper limits on the termination rate for voice service over mobile networks will decrease from NT$0.407 to NT$0.330 per minute from 2025 to 2028, representing an aggregate decrease of about 19%[19]. - The company is subject to extensive regulation under the ROC Telecommunications Management Act, which may limit its flexibility to respond to market conditions[17]. - The company may face administrative penalties if it fails to comply with the cybersecurity requirements set forth by the Cyber Security Management Act[29]. - The government of the ROC has established the National Financial Stabilization Fund to support the securities market, which may affect the market price of the company's shares[68]. - The company may be sanctioned for violations of foreign ownership limits, which could adversely affect its ability to obtain financing[69]. Financial Performance - In 2024, Chunghwa Telecom reported revenues of NT$230.0 billion (US$7.0 billion) and a consolidated net income of NT$38.5 billion (US$1.2 billion), with basic earnings per share of NT$4.79 (US$0.15)[87]. - Capital expenditures for 2024 totaled NT$28.8 billion (US$0.9 billion)[88]. - The company has recognized an impairment loss reversal of NT$139.2 million (US$4.2 million) for investment properties in 2024, indicating a recovery in asset value[42]. - The company's financial results under Taiwan IFRSs may differ materially from those reported under IFRSs for SEC filings[65]. - The company faces risks from potential health concerns related to mobile handsets and base stations, which could reduce customer usage and impact revenue[49]. - The company is subject to various legal proceedings that could expose it to substantial liabilities, potentially affecting its financial condition[57]. Market Dynamics - The telecommunications industry in Taiwan has seen a decrease in mobile network operators from five to three following a merger in December 2023, increasing market concentration[23]. - The company faces intensified low-price strategies from cable operators, with bundled prices being about 10% to 20% lower than its offerings[25]. - The company is focusing on promoting high-quality 5G services to increase mobile service revenues, but faces competition from aggressive pricing strategies by other operators[24]. - The overall mobile services market in Taiwan experienced a revenue increase of 1.9% in 2024, driven by steady 5G migration and recovery of roaming services[135]. Technological Investments - Significant capital expenditures are planned to upgrade telecommunications technologies and services, particularly in response to the high-bandwidth requirements of digital convergence services[38]. - The company aims to expand its ICT services and has initiated the construction of data centers and cloud services in collaboration with major public cloud providers[97]. - The company is expanding its IDC business by building AIDCs to meet the growing demand for AI applications, indicating a strategic focus on emerging technologies[163]. - The company has invested in 31 submarine cables, with a total invested capacity exceeding 29 Tbps as of December 31, 2024[200]. Customer and Market Share - As of December 31, 2024, the company had approximately 1.1 million mobile customers, holding a market share of approximately 38.0% in total mobile customers and 40.4% in mobile service revenues in Taiwan[127]. - The company maintained a local telephone service market share of approximately 91.4% from 2022 to 2024, although revenues from local telephone services decreased from 10.5% of total revenues in 2022 to 8.7% in 2024[148]. - The company has a 70% market share in IDC services in Taiwan, reinforcing its position as the largest IDC services provider[121]. - The company holds over 70% market share in the IDC business in Taiwan, positioning itself as the leading IDC service provider[186]. Environmental Initiatives - The Climate Change Response Act aims for net-zero emissions by 2050, with potential regulatory fees starting in 2025 for industries exceeding 25,000 tonnes of CO2e emissions[33]. - The company aims for a 50% reduction in scope 1 and 2 carbon emissions by 2030 compared to 2020 levels and plans to use 100% renewable energy for its data centers by 2030 and for the entire company by 2040[35]. Operational Challenges - Interruptions in electricity or water supply could significantly harm the company's operations and financial condition[58][59]. - The company must attract and retain skilled personnel to maintain its competitive edge, with increasing demands for qualified talent in the telecommunications industry[60]. - The company's principal executive offices and substantially all assets are located in Taiwan, with nearly all revenues derived from operations in Taiwan, making it vulnerable to political risks and changes in ROC governmental policies[61]. Strategic Developments - The company has established an AI 2.0 Corporate Strategy Committee to build AI governance principles, although the effectiveness of these measures against cyber threats is uncertain[28]. - The establishment of Chunghwa Telecom Europe GmbH in Germany in July 2024 aims to expand business opportunities in the European market[116]. - An investment of US$30 million in Taiwania Hive Technology Fund L.P. was approved in February 2024 to capitalize on digital transformation trends in Southeast Asia[115]. - The company plans to explore opportunities in equity investments and strategic acquisitions to enhance core competitiveness in AI, 5G, and cybersecurity sectors[117]. Subscriber Growth - Total internet subscribers in Taiwan increased from 6,897,000 in 2022 to 7,097,000 in 2023, and is projected to reach 7,398,000 in 2024, representing a growth of approximately 2.9% year-over-year[146]. - HiNet FTTx subscribers grew from 3,479,000 in 2022 to 3,526,000 in 2023, with a forecast of 3,591,000 in 2024, indicating a steady increase[146]. - The number of home Wi-Fi devices rented increased by 36.8% year-over-year, indicating strong demand for Wi-Fi services[146].

Chunghwa Telecom Co., Ltd. (NYSE:CHT) Q4 2024 Earnings Conference Call January 23, 2025 2:00 AM ET Company Participants Rong-Shy Lin - President Audrey Hsu - Chief Financial Officer Angela Tsai - Assistant Vice President of Investor Relations Conference Call Participants Operator Good afternoon, ladies and gentlemen, welcome to Chunghwa Telecom conference call for the company's fourth quarter 2024 operating results. During the presentation, all lines will be on listen-only mode. When the briefing is finish ...

Core Viewpoint - Chunghwa Telecom reported strong financial performance in 2024, achieving a seven-year high in full-year revenue and exceeding profitability guidance, driven by growth in mobile and ICT services [3][4]. Financial Highlights - Total revenue for Q4 2024 increased by 5.6% to NT$ 65.35 billion [4][7]. - Full-year revenue for 2024 rose by 3.1% to NT$ 230.03 billion [4][10]. - Operating income for Q4 2024 increased by 11.5% to NT$ 11.65 billion, with an operating margin of 17.83% [12]. - Net income attributable to stockholders for Q4 2024 increased by 9.0% to NT$ 9.00 billion, with basic earnings per share (EPS) of NT$ 1.16 [12][19]. - EBITDA for Q4 2024 was NT$ 21.59 billion, up 5.9% year-over-year, with an EBITDA margin of 33.04% [15][19]. Business Segment Performance - Consumer Business Group revenue increased by 2.2% to NT$ 37.33 billion, driven by mobile service growth and fixed broadband upgrades [4][8]. - Enterprise Business Group revenue rose by 10.2% to NT$ 23.96 billion, with ICT business revenue growing by 24.1%, particularly in IDC, cloud, and cybersecurity services [4][9]. - International Business Group revenue decreased by 2.3% to NT$ 2.50 billion, primarily due to a decline in international voice revenue [4][10]. Subscriber Metrics - As of December 31, 2024, mobile subscribers slightly decreased by 0.1% to 13.12 million, while mobile service revenue increased by 1.7% year-over-year [16]. - Fixed broadband subscribers increased by 0.6% to 4.43 million, with fixed broadband revenue growing by 2.9% year-over-year [17]. Future Guidance - For 2025, the company expects total revenue to increase by NT$ 2.71 to NT$ 3.71 billion, or 1.2% to 1.6%, to NT$ 232.74 to NT$ 233.74 billion [20][23]. - Operating costs and expenses for 2025 are projected to rise by NT$ 4.31 to NT$ 4.38 billion, or 2.4% [20][23].

Core Viewpoint - Chunghwa Telecom has outlined its strategic focus for 2025, emphasizing sustainable growth through innovation in ICT services, AI applications, and digital resilience while addressing market demands and national policies [2][4][8]. Financial Guidance - The company expects total revenue for 2025 to increase by NT$ 2.71 to NT$ 3.71 billion, or 1.2% to 1.6%, reaching NT$ 232.74 to NT$ 233.74 billion compared to 2024 [4][9]. - Operating costs and expenses are projected to rise by NT$ 4.31 to NT$ 4.38 billion, or 2.4%, totaling NT$ 187.58 to NT$ 187.65 billion [5][9]. - Income from operations is anticipated to decrease by NT$ 0.16 to NT$ 1.58 billion, or -0.3% to -3.4%, resulting in NT$ 45.30 to NT$ 46.72 billion [6][9]. Strategic Focus Areas - Chunghwa Telecom will concentrate on three strategic pillars: "Sustainable Future," "Smart Empowerment," and "Digital Resilience," with six key themes driving growth: "Sustainability Opportunities," "AI Applications," "Resilience Enhancement," "Next-Generation Networks," "Reinvestments," and "Asset Revitalization" [2][3]. - The company aims to enhance user value and increase Average Revenue Per User (ARPU) through cross-sector collaboration and addressing customer needs [2][3]. Market Strategies - The three business groups—Consumer, Enterprise, and International—will focus on market expansion and collaboration to explore new opportunities [3]. - The technical divisions will develop energy-efficient, all-photonic networks while enhancing data governance and deploying advanced technologies [3]. Capital Expenditure - Acquisition of Property, Plant, and Equipment is expected to rise by NT$ 3.37 billion to NT$ 32.36 billion, driven by investments in AI data centers, submarine cables, and 5G deployment [7][9]. Management Philosophy - The management philosophy emphasizes simplification, pragmatism, and intelligence to ensure stable growth and establish a strong presence in emerging markets and technologies [8].

1 © Chunghwa Telecom 3Q 2024 Operating Results November 6, 2024 Disclaimer © Chunghwa Telecom STATEMENT REGARDING UNAUDITED FINANCIAL INFORMATION The unaudited financial information under T-IFRSs in this presentation is preliminary and subject to adjustments and modifications. Adjustments and modifications to the financial statements may be identified during the course of the audit /review work, which could result in significant differences from this preliminary unaudited financial information. NOTE CONCERN ...

Start Time: 03:00 January 1, 0000 3:39 AM ET Chunghwa Telecom Co., Ltd. (NYSE:CHT) Q3 2024 Earnings Call November 06, 2024, 03:00 AM ET Company Participants Rong-Shy Lin - President Audrey Hsu - CFO Angela Tsai - Assistant VP, IR Conference Call Participants Sara Wang - UBS Operator Good afternoon, ladies and gentlemen. Welcome to Chunghwa Telecom Conference Call for the Company's Third Quarter 2024 Operating Results. During the presentation, all lines will be on listen-only mode. And when the briefing is f ...

Core Viewpoint - Chunghwa Telecom reported solid financial results for Q3 2024, achieving a total revenue increase of 3.6% year-over-year, driven by growth across all business segments, despite a slight decline in operating income and net income [1][2][4]. Financial Highlights - Total revenue for Q3 2024 was NT$ 55.61 billion, up 3.6% from the previous year [1][4]. - Consumer Business Group revenue rose by 2.1% to NT$ 34.43 billion, with mobile service revenue increasing by 3% due to 5G migration and higher postpaid subscribers [1][5]. - Enterprise Business Group revenue increased by 5.9% to NT$ 17.60 billion, driven by a 22% growth in ICT business revenue [1][6]. - International Business Group revenue grew by 1.4% to NT$ 2.37 billion, with income before tax rising by 11% year-over-year [1][7]. - Total operating costs and expenses increased by 4.8% to NT$ 44.23 billion, primarily due to higher manpower costs and one-time broadcasting rights fees [1][8]. - Operating income decreased by 0.8% to NT$ 11.38 billion, with a margin of 20.5% [1][9]. - Net income attributable to stockholders decreased by 1% to NT$ 9.01 billion, with basic earnings per share at NT$ 1.16 [1][9]. Business Segment Performance - The Consumer Business Group maintained growth, supported by 5G migration, steady fixed broadband revenue, and increased OTT revenue from exclusive broadcasting rights [2][5]. - The Enterprise Business Group's performance was bolstered by significant growth in ICT services, particularly in 5G private networks and big data analysis [2][6]. - The International Business Group's growth was driven by demand for ICT services in international markets, with a new European subsidiary commencing operations [2][7]. Technological and ESG Initiatives - Chunghwa Telecom initiated the world's first IOWN APN between Taiwan and Japan, and is the exclusive provider of OneWeb low-earth-orbit satellite services in Taiwan [3]. - The company received SBTi verification for its Net-Zero greenhouse gas emissions target, committing to achieve Net-Zero by 2045 [3].

Press Release Nokia and Chunghwa Telecom prepare for 5G-Advanced era with expansion deal New deal readies Chunghwa Telecom for 5G-Advanced era with enhanced, energy-efficient AirScale solutions including Nokia's state-of-the-art Habrok Massive MIMO radios. Utilizes Nokia's intelligent AI-powered MantaRay solutions portfolio for enhanced network monitoring and optimization. 28 October 2024 Espoo, Finland – Nokia today announced that it has been selected by Chunghwa Telecom (CHT), in a one-year extension deal ...