Chunghwa Telecom Reports Un-Audited Consolidated Operating Results for the Fourth Quarter and Full Year of 2023

Core Viewpoint - Chunghwa Telecom reported strong financial results for the fourth quarter and full year of 2023, with total revenue and earnings per share reaching six-year record highs, indicating continued growth in a competitive market [3][2]. Financial Highlights Fourth Quarter 2023 - Total revenue increased by 4.0% to NT$ 61.86 billion [1]. - Consumer Business Group revenue rose by 4.4% to NT$ 36.54 billion [1]. - Enterprise Business Group revenue grew by 2.5% to NT$ 21.74 billion [1]. - International Business Group revenue surged by 33.4% to NT$ 2.55 billion [1]. - Total operating costs and expenses increased by 4.4% to NT$ 50.77 billion [1]. - Operating income decreased by 4.6% to NT$ 10.45 billion [1]. - EBITDA decreased by 2.2% to NT$ 20.38 billion [1]. - Net income attributable to stockholders decreased by 1.7% to NT$ 8.26 billion [1]. - Basic earnings per share (EPS) was NT$ 1.06 [1]. Full Year 2023 - Total revenue increased by 3.0% to NT$ 223.20 billion [2]. - Consumer Business Group revenue increased by 3.8% to NT$ 137.09 billion [2]. - Enterprise Business Group revenue rose by 1.2% to NT$ 73.00 billion [2]. - International Business Group revenue increased by 27.8% to NT$ 9.19 billion [2]. - Total operating costs and expenses increased by 3.6% to NT$ 176.21 billion [2]. - Operating income decreased by 1.0% to NT$ 46.35 billion [2]. - EBITDA decreased by 0.3% to NT$ 86.01 billion [2]. - Net income attributable to stockholders increased by 1.2% to NT$ 36.92 billion [2]. - Basic earnings per share (EPS) was NT$ 4.76 [2]. Business Performance - Chunghwa Telecom maintained its position as the largest player in the industry, holding over 60% of the domestic market capitalization and leading in mobile revenue and subscriber share [3]. - The mobile business revenue has shown growth for 33 consecutive months, with a 49% increase in monthly fees for 5G migration in the fourth quarter [3]. - The Consumer Business Group saw growth in international roaming revenue, exceeding pre-COVID-19 levels [3]. - The Enterprise Business Group's revenue growth was driven by ICT and mobile business, with cybersecurity revenues growing for eight consecutive quarters [3][6]. - The International Business Group's revenue growth was attributed to emerging business areas such as IDC and cloud services [7]. Future Outlook - For 2024, the company expects total revenue to increase by NT$ 5.34 to NT$ 6.99 billion, or 2.4% to 3.1%, reaching NT$ 228.54 to NT$ 230.19 billion [14]. - Operating costs and expenses for 2024 are projected to increase by NT$ 7.09 to NT$ 8.06 billion, or 4.0% to 4.6% [14]. - The company anticipates a decrease in income from operations, with expectations ranging from a decrease of NT$ 1.12 billion to an increase of NT$ 0.15 billion [14].