Q1 2025 Taiwan Mobile Co Ltd Earnings Call Transcript
Key Points
- Mobile service revenue increased by 2% year-on-year, driven by successful network integration and merger synergies.
- Telecom EBIT grew by 30% year-on-year, contributing to an 11% increase in consolidated EBIT.
- 5G penetration in the smartphone postpaid user base rose to 42%, with a 12% year-on-year growth in 5G revenue.
- Home broadband business achieved 8% year-on-year revenue growth, supported by a 4% increase in subscribers and ARPU.
- Taiwan Mobile was recognized for its ESG achievements, including being included in the CDP's Climate Change A List for the fifth year.
- E-commerce business, momo, faced a muted retail environment, leading to lower revenue and margins.
- Momo's EBITDA and net profit contribution fell to 11% due to increased investments in marketing and technology.
- Operating cash flow decreased year-on-year in Q1 2025, despite telecom EBITDA growth.
- Investing cash outflow increased year-on-year, driven by investments in mobile infrastructure.
- Cable TV segment showed softness, impacting overall EBITDA stability despite broadband strength.
Good afternoon, everyone. Welcome to the Taiwan Mobile's conference call. And our Chairperson today is Mr. Jamie Lin.
Mr. Lin, please begin your call, and I'll be standing by for the question-and-answer session.
Questions & Answers
Thank you, operator. Good afternoon, everyone. Welcome to Taiwan Mobile's first quarter 2025 results conference call. Before I start our presentation, please do refer to our safe harbor notice on this page. Now let's take a look at our business overview.
Please turn to Page 4 for highlights of the quarter. So in first quarter '25, mobile and home broadband, our two main growth engines delivered solid top line performances. Mobile service revenue increased by 2% on the back of normalized comparison base as 1Q '24 was the first complete quarter after we merged Taiwan Star. In addition to top line growth, cost savings from faster-than-expected network integration, which we completed in 3Q last year, drove significant synergies in profitability.
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